It is scary and frustrating and can be expensive.  

It would be the income after paying all expenses like mortgage utilities etc and property manager

@Alex Lawson I know an investor that also has a list of expenses for repairs.

So we mentioned that they will be liable for the paint expense which he thinks is the landlords responsibility to paint every three years.

So I have 3 days I can dedicate to my bookkeeping.However, I'm wondering do I need a bookkeeper to streamlined expenses going out. 🤔?

The reason being: we’d love to live long term in New England but we’re very discouraged by the housing market up here (a lot of expensive run down properties and seems like a lot of red tape) 

The second is a growing desire to manage risk through owning better-quality assets where unexpected capital expenses are less likely.

Currently only 30 people per milePersonal Preferences:Local Metro: Older build , more expensive (at best its 0-100 cash-flow), higher rents, larger tenant pool Nearby Rural: New build , cheaper (Will cash flow +500), rents a little softer but demand for new products and neighborhoods is real, tighter tenant pool.

I would start by building out a basic P&L for what the property generates today vs. what it will generate in the future, and factor in any capital expenses required to get there.

In respective, I would say create the value (increase revenue, decrease expenses) and then after you do that call a bunch of lenders to see how they would value the property.