I just opened my new Business checking account/ with EIN. 

What hurts Investors that use this formula is it does not account for Holding Costs, Backend Selling Costs, etc.

at one point I had 11 houses and couldn't get anybody, accountants or bookkeepers, to give me the real numbers.... so I took over few years ago with my excel spreadsheet, directly from bank account, and split between the houses, so I can give my investors a report...However, for accountants, they don't like that, and want to bring me back to Quickbooks... and NOOOOOO WAYYYYY!!!!  

PM and team are ciritical for success I don't know that I would say that one should absolutely have 6 months of operating expenses in their bank account before buying a rental property.

Welcome to the site Account Closed

Account Closed Thanks for your insight also, that is a good idea and I will do that.

Take all these things into account.

I'm happy to answer questions on how my clients are earning ROI's in the "teens" in an annual basis.

That isn't accounting any $ in the budget if there is any issue with foundation, roof, HVAC, exterior paint/siding replacement, or anything else.If you were to buy at a purchase price of $95,000, after back end realtor commissions and closing costs you might make a $2,000-$3,000.

Hi Account Closed, Welcome to BP and to REI!