From this you would deduct your allowable operating costs (legal, administrative, servicing, etc) and the remainder would be your net income.

So here is a little about me; I am a 27 years old and working a great job in Savannah, GA but I've always wanted to own and operate my own successful business.

Maybe he has a video/security system for the building that feeds to him via wifi and without your password he can't operate his cameras....

If said dealer operates as an S-corp or partnership - reporting is fairly straightforward.

Do I list them as an operating expense on schedule E even though they occurred before the in service date?

People will argue of impending Armageddon if you don't slavishly follow your contract  but it's not true.It can be a way you choose to operate your business - most it's not how most businesses  operate (ever heard of the gesture of goodwill) and there is no real reason (no it will not necessarily get you in Fair Housing trouble) for a rental business to be an exception. 

I have interviewed with most of the big brokerages out there, and found what they offered to be fairly useless for the way my business operates.

Disclaimer: I’m not attorney and this is not legal advise but it’s my experience of actions I’ve taken with success.Docs Your going to need are SCC docs with articles of organization as well as a operating agreement as well as a federal identification number “EIN”.

As you learn the different facets of the business you will have a better understanding of everything that goes into finding and operating a multifamily deal. 

You don’t need the well and perc test if you go that route.You still need the soil test to check for load bearing quality.The water/sewer/gas/power across the street is great, but don’t underestimate the tie in fees for these utilities.