Our IRA is looking to fund an LLC and we just started talking with an attorney, he mentioned the people charging travel to their IRA is a common violation.Bob

In a *typical* building they cover wide range of common expenses for example; management, insurance, water, sewer, garbage, fire system, elevator, janitorial, landscaping, and the list goes on.

It’s a common myth that eviction notices aren’t “legal” unless they’re notarized.

(common in this area)Rounded a bit, this is $2283/month.IncomeUpper Unit = $1450 (realtor said a conservative estimate would be 15 but I think that this would be more accurate although it is not rented out yet.)Lower Unit = $1150 (leased for another 4 months)Total= 2600$Income-Expenses= $317To be safe I have always been told to have a security margin, usually 10% of the income in case of vacancies or other issues.$317-$260= $57Is this the correct way in analyzing this property?  

You can easily find two people of the same color that have nothing in common, talk different and share different beliefs.

They are common stories but there must be some exceptions out there if I can dive deep enough. 

Are there any expenses that a property management company commonly incurs during the rental (eg, cleaning between renters, marketing, etc.) or are these usually all passed on to the owner?

This is a common situation now in the lower mainland and also one I've found myself in.

Is it common to write off all of your rental income each year?

Most commonly the owners in the colder climates select the lease expiration to stretch  over a year to ensure if falls between March 31 and August 31st when possible.