This saves time and reduces the aspect of tenants asking for extras when they know there is competition for your unit.

You can do this by coming up with an expected annual loss figure or you can just reduce the income by a expected loss percentage.

My early days in real estate where characterized by earning cash doing management jobs to save for down pmts on my own rentals.

You will raise your monthly payment but you will be reducing your loan amount faster.

When you earn something through hard knocks you appreciate it more and hold on tight through past learning experiences to not go back to that place again.This is why many with an inheritance or winning the lottery etc. are broke after a few years.

.:...My understanding is that the highly touted tax benefits of owning rental property boils down to [1] you can write off expenses (but I don't see that as a benefit; I don't think people should pay taxes on money they didn't make), ...Well, for the most part the expenses that are a "write off" reduce income that was actually received in the form of rent; so that basically just lowers net income received.

So, you can either get licensed (my recommendation) or you'll have to figure out another way they can compensate you.The best way I can think of to get compensation is to use these agents to list your properties when you sell, but to do it at a reduced commission to compensate for the leads you sent.

Unfortunately, they're baby loans, under 50k, which reduces opportunites elsewhere right out of the gate.

I’m also a realtor so I earned commission when I buy/sell the properties for the LLC.

But the question posed was how can we clean it up....I think.Well, follow the lead of the good ones, begin underwriting the deal, asses the real risks involved, employ tatics to reduce or eliminate identified risks, and assess the value truly given and charge fairly for the real risk assumed.