Setting up an entity is recommended, particularly if you have multiple properties and are operating a business, not just one passive income investment.

Will, the difference between NR and other gurus/bootcamps is the sleazy way they operate, especially on the internet.

However, with a second job (and saving every nickel from it) you could easily bank $25K in the next 12 months.Learn how RE laws and customs operate in your neighborhood.

I personally believe the opportunity for theft is so great, it would be almost impossible to operate one of these communities and experience no loss due to employees pocketing some of the overnight money.

Operating expenses (what you spend on the business), interest, and depreciation.

Or, would it be better to just not operate under a business name and just claim the money on my taxes.I am also concerned if I file a dba, that I will get over taxed.

The rule is said that operating expenses will "average" 50% of gross rents all across the country.

Check for slow drains, too, and run hot water down the kitchen drain for ten minutes to help clear any grease buildup.Also, check the number of toothbrushes to see if extra people are living there; check smoke detector operation (has TENANT removed batteries?)

Plus whatever it might need to be operable.

This is what it looks like.6plex Sales Price $325,000 Loan Amount $260,000 Interest Rate 7.125%Term in Years 30Loan to Value 80.00%P & I $1,751.67(This loan is through an Alaska housing program for which both this property and I qualify for.)Total Rental Income $57,600 Less Vacancy 10.00% -$5,760Adjusted Gross Income $51,840EXPENSESTaxes $4,584 Insurance $2,580 Utilities including Refuse/Cable $9,661 Management $4,725 Maintenance & Repairs $1,000 Replacement Reserves $1,800 Miscellaneous $1,000 Total Expenses $25,350 Net Operating Income $26,490 Total P & I $21,020 Net Cash Flow $5,470 = $455 per monthI know that the cash flow doesn't look that great with the property management cost but it is required to be factored in for this program.