And in many cases at least in my case my bank gets quarterly and annual financials from us and my Banker he would pick it up in our financial reports or our tax return and next thing I would know I am getting a call from him me when I plan to pay it off.

My questions are around taxation - i have read that if the rental is not associated with a us trade or business, then the gross income from the rental is taxed at 30%, however if associated with a us trade or business, then graduated rates apply, as well as the net is taxed and not the gross.

Here's my situation:I own a duplex that is about 100 years old and my tenants pay for all of the utilities EXCEPT for city water (which comes out of my pocket each quarter).Both of these rental units could benefit from some plumbing updates throughout (e.g. - 1.28 gallon toilets, eco-friendly faucets, eco-friendly shower heads, etc.) as a way of helping this rental property consume significantly less water (enough to save me a few hundred bucks each year...

Best,Jon Property tax at 1.1% on $1.3m purchase and $250k ADU is $1420. $2,200 for 6 units will likely not even cover maintenance/cap ex but we will say it does.  7% PM is $770.  5% vacancy is $550.  

Fitchburg Listing Inventory has remained flat for the first quarter of the year, below the previous year with Sales matching near half the previous year over the last 2 months.

Household debt has hit a record high, rising to $17.69 trillion in the first quarter of 2024, with credit card debt alone averaging $6,360 per borrower, per CNBC.

Quarterly, I update my PFS with them and they reevaluate the risk (there isn't much because of the equity I force into each deal) and that's really about it.

But are short-lived, as in will take less than 2 quarters to rectify. 

I usually head to the house once a quarter to check up on things and fix anything that might need to be repaired (and of course have some fun up there).

Its a lifelong learning experience (and Im saying that with a Masters Degree in Taxation and 12 years experience as a CPA haha).