If you are managing one property, I would just create an excel file.Expenses will be linens, advertising, and all of the usual office expenses.No need for any software with one property.GOOD LUCK! 

So, I will need to create an LLC for my real estate rental business.

I am looking to begin investing in real estate and trying to create some form of passive income for my family.

Fourth, create a long-term real estate investment plan that complements your preferred lifestyle and financial objectives.

It's a hotspot for value-added properties, where achieving close to the 1% rule is very achievable.

As such, I'd let the "2 years in the last 5 years" rule lapse given the low interest rate I got on the first and how well it is cash flowing.

However if you plan on buying 3-4units, there is a trigger rule for FHA, it is called the self sufficiency test.

However, it's essential to confirm this with a tax advisor to ensure compliance with IRS rules and regulations.As for using the proceeds personally: Roth IRA contributions can be withdrawn at any time without taxes or penalties since these contributions are made with after-tax dollars.

The wholesaler and I can create a partnership so the wholesaler will get 4k at closing and the remainder can be used as a contribution into the partnership.

The date remaining balance is due is usually disclosed in the auction rules and can be found on the website/place of sale you see the condo sold at.