Fund a condo reservethere is a good amount of legal involved in this, and if that is the case, it may not be worth it.

@Daniel King as long as you give tenants payment options, they can "pick their poison".Most free software for owners, make their money by charging tenants.We've designed our charges to encourage online payments and discourage mailed payments.FYI: not sure you can legally NOT accept cash, but you CAN require them to only deposit into your bank account instead of giving it to you.

Agree, I also had a hard time making the numbers work in the midwest without house hacking being involved.

If you get involved with local real estate groups like NCREIA or TREIA they may have vendors that they refer or CPAs that you can connect with at those groups.

The only downside is it takes roughly 5 days from the tenant withdrawal until it hits my bank account.

I work with only a couple clients per year (friends/family) since I have a full time job outside of real estate.I was reviewing all of my fees involved with being an agent and currently a REALTOR which are:1.

Pros:Stable Income: These facilities often sign longer leases, providing landlords with a more stable and predictable income compared to traditional residential rentals.Higher Rent Potential: Because these facilities generate income through the services they provide, landlords might negotiate a higher rent than standard residential properties, reflecting the commercial nature of the tenant's business.Lower Tenant Turnover: Residential assisted living facilities tend to have lower turnover rates, reducing the frequency of vacancies and the costs associated with finding new tenants.Social Contribution: By renting such facilities, landlords contribute to addressing the growing demand for assisted living and support services, positively impacting their community.Property Maintenance: Tenants in this sector often maintain the property well to comply with regulations and ensure a comfortable living environment for their clients, potentially reducing wear and tear.Cons:Regulatory and Compliance Issues: Facilities must adhere to strict regulatory and compliance standards, which can involve the landlord in complex legal and zoning issues.Higher Insurance Costs: The nature of the business might require additional insurance coverage, potentially increasing costs for landlords if they are responsible for carrying this insurance.Modifications and Upgrades: Meeting the specific needs of an assisted living facility may require significant property modifications and upgrades, which can be costly.Market Limitations: Should the lease end or the facility close, the specialized modifications made to the property might limit the market for future tenants, potentially requiring substantial investment to revert the property for standard residential use.Operational Oversight: Landlords might need to monitor the facility's operations more closely to ensure compliance with lease terms and local regulations, requiring more hands-on involvement than traditional rentals.

With tax season upon us I wanted to hear your opinion on the best accounting software out there.Like many of you, I've been juggling various aspects of property management, from tracking expenses and managing leases to preparing for tax season.

The 25 % is accounted for vacancy due to the lender being conservative.

@Alex NgThere are savings accounts that offer 5% right now.