This is explained early and often with new clients and it has always been a part of our fee structure as long as you've been a client. 

Rental income and expenses, such as mortgage interest, property taxes, repairs, and depreciation, can be reported on Schedule E of your personal tax return, regardless of ownership structure. 

Purchase price: $2,800,000 Cash invested: $560,000 The property is a three-story multi-family residential building with six independent units, initially facing significant challenges due to poor conditions.Renovation Investment Summary:- **Structural Repairs:** $250,000- **Kitchen Modernization:** $100,000- **Bathroom Updates:** $50,000- **Exterior Improvements:** $100,000- **Holding Costs:** $50,000- **Property Taxes:** $30,000- **Insurance Costs:** $10,000- **Management Services:** $10,000

@Paul Shannon Great job asking about the fee structure.

So, when Trump changes to no tax on tips I feel inclined to change my rental income structure.50% reduction in rent.Previous 50% made up from a mandatory nontaxable tip. 

Inspections are typically done by licensed professionals like structural engineers, architects, or certified building inspectors.

If not, then you really need a strong legal structure stating how these properties will be governed going forward, including management, tenant selection, capital expenses, etc.

I have been a Union carpenter for four years now and enjoy working physical labor.

Need some advice on the best way to structure this deal that's fair and beneficial for a 3 person LLC/partnership agreement. 

In the past when I am looking for a property manager I google to find all managers with physical offices in close proximity to my properties to narrow my search and ignore all sponsored adds that fake that they are local.Since you have self managed, you will be better equipped to "manage the manager".