We plan on creating an llc.

The homeowner insurance market right now is a dumpster fire with carriers refusing to write business and creating incredibly tight underwriting guidelines.

And LA County already has laws dealing with any lot created prior I think to 1924 or 34..

., repairs, management, communication with the seller).Exit strategies in case things don’t go as planned.When you do find the right partner make sure to create a joint venture agreement that outlines all of this clearly.

Just want to start setting up as if it were. so far i have thought about creating 7 accounts.1) all rental income account 2) account where common utilities and mortgage will be billed3)maintence/capex expenses4)vacancy expense5)management expense (to put the units up for rent)6) property taxes 7)cashflow am i missing anything? 

*This post does not create a CPA-client relationship.

I created lists, searched virtual markets and was able to skip trace all of these for free...or so I thought.

@Caleb Rehg Here is a post I created on student rentals.

Does adding a ADU create value in a property vs. the price of the adu build? 

A 10-15 year return on a multifamily property in Boston will create life changing wealth and will obliterate returns from other, cheaper markets.