You have to be prepared to learn and screen out tenants and that only comes with experience.

This takes some preparation and research, as well as a built up self-confidence, in order to achieve the desired result.

Before I call I take the time to look at their property online and learn what I can about the house; I start a property info form on the house and then I call, prepared and ready to deal, knowing that I will have to listen to their story if I want them to hear mine.

You do need a good accountant, I suggest a degreed accountant not a tax preparer bookkeeper type unless the specialize in construction and RE.

College wouldn't prepare you for what it sounds like your passionate with - in my opinion.

Preparing for taxes this year. 2013 was my first time to wholesale part time + my day job.

Is this something that you would be prepared to move into and self manage?

Your title company should give you a good faith estimate; title insurance, pro-rated taxes, transfer taxes, deed preparation, recording fees, notary fees, junk fees, if a mortgage is involved it will add to the expense.

The benefit for the composite filing is that individual partner would not have to file a return in the non-resident state.The tax preparation is not difficult.

Brick by brick manage the tenants better -- if rent is late most you can put a lock box on the door to prepare to show the property, that will get attention of deadbeat tenants.