My sister and cousin purchased one of those properties.

Hi,I'm about to close on a property in Seattle area.

Similar to the allowances in a pro forma, they are simply set asides and only become expenses when the property taxes/insurance are actually paid from them. 2) Capital Expenditures - They certainly feel like expenses, but certain improvements cannot be expensed outright but instead have to be capitalized and expensed/depreciated over time.  3) Depreciation - Finally some good news! 

You can always start off in real estate by acquiring a property as a primary residence.

I have someone applying to my property, and they are here in the US on a work Visa.

Hi Tanya,We managed HH (House Hack) properties for a few years (we don't anymore.) 

Assuming it's written in your management agreement somewhere that states the owners are current on all financial responsibilities related to the property, does anyone require them to actually provide a current mortgage statement, HOA payment record, taxes paid, etc..... at least at the time of the original management agreement signing.Recently had a new owner sign the agreement, only to find out after we had secured a new tenant for them, that they were in financial distress to say the least (inquiring about bankruptcy) .

Get the lingo down, see what others are doing, see how the communication is, listen to 100 pitches for LPs, get on the deal flow lists, get on some property tours. listen to the podcasts for 2-3 months. 

However it’s hard to get that ball rolling without any deals under my belt even though I do have experience with managing a syndication and property management through my professional career. 

Making an emotional purchase decision on an investment property and ignoring the numbers.