This general log gives an overview of your activities, but it might not be detailed enough for IRS purposes.Example 2: Detailed LogMonday, 7/1/247 AM - 7:30 AM: Monitored security cameras1:30 PM - 2:15 PM: Responded to tenant question regarding parking3:00 PM - 3:30 PM: Monitored security cameras4 PM - 4:15 PM: Checked mail and delivered to tenants, as necessary7 PM - 7:30 PM: Monitored security cameras10:30 PM - 11 PM: Monitored security cameras7 AM - 11 PM: Remained on standby all day for tenant needs/emergenciesThis detailed log breaks down your activities into specific time slots, which can provide a more precise account of how your time was spent.Best Practices for Record-KeepingBe Specific: Break down your activities into smaller time intervals, as shown in the detailed log example.Use a Logbook or App: Consider using a time-tracking app or a dedicated logbook to keep daily records.Document Standby Time: Clearly note the hours you are on standby for emergencies, but also separate it from active tasks.Include All Activities: Document everything from advertising to maintenance and tenant interactions.Consulting with a Tax ProfessionalGiven the complexity of qualifying for REPS, it's always a good idea to consult with a tax professional.

Another thing I'd highly recommend is talking to property managers on BP to get some feedback-- it's probably very rewarding and can produce income without many starting costs, but it does come with headaches.By thinking about your next steps, you're already on the right track.

So it is safe to say, the business has to pay for 100% of it's operations, from about 7% of it's intake potential client's. 93% are JUST an expense with NO revenue produced. 

I do not have large reserve of capital although do produce enough through my current properties to Fund 200k of repairs over next 2 yrs. 

Many times experience of the buyer, credit history and reserves in addition to what income the property can produce will factor in how the lender will structure the loan. 

It can move like molasses too, so your asset may take time to sell if you choose to exit.All this said, and I don't have a single income producing residential property at the moment....something I'm working to rectify.

Thank you, RTR, for providing excellent and valuable services from start to finish, making it easy for out-of-state investors to own income-producing rental properties.”You can't go around and tell me it's the best time to buy right now, it depends on your intention with it.

We've noticed a very strong increase in out of state investor interest in Oregon motivated by Oregon 1031X Exchange transactions and wanted to share some insight into alternative income producing asset classes that are common, attainable and available in Oregon. 

Just attach that to the highest income producing property?

These are multi family hubs that can produce good cashflow, but might not appreciate the same way as Burlington.