Feel free to PM me if you'd like to discuss this further.At the very least, just remember a real estate investment is only worth what it rents for.Yours in Service,Lanny

One big thing would be to urge myself to talk to a full-service CPA firm either before or immediately upon acquiring the first rental.

I'm planning to turn at least one of the 1/1's into a vacation rental which should earn at least 1200/mo (very conservative estimate, probably higher).Purchase price: 295,000Down payment: 25%, $73,750Loan term: 30 yearsInterest rate: 5.375%P&I: $1238.94/moClosing costs: $2800Gross scheduled income: currently $2650/mo, I'm planning on $3000/mo minimum with STR, so $36,000/yearLess Vacancy/Repairs: 10% = $3600*Gross Operating Income: $32,400Less taxes ($4700 (high estimate)), Insurance ($900), and Water/Sewer ($1800):  $7400Net Operating Income: $25,000Less Debt Service: $14,867Before Tax Cash Flow: $10,133CAP rate: 8.47%COC: 13.24%*yes, I know that's low for Vacancy/Repairs/CapEx, thats because we do our own work and management.  

Even though we have previously rented out two of our primary residents, with a whole host of ups and downs, going through this process has been totally new in so many ways.  

If you want to check out the investor meetup I host it's posted in the events under Investor 101. 

I’m looking for anyone who has used the services of Morris Invest the company run by Clayton Morris.

They are far more likely to have these services if they are local in the area you are buying in. 

City ordinance requires us to provide both garbage and recycle service for our multifamily properties.

Also identify a couple of states that you would like to focus on and find a note servicing company that can help manage your note portfolio.

I used Curtis Mcminn a few years ago and had good service from him.