Are their specific methods or software used to monitor a projects schedule, keep GC's and subs accountable and all involved parties on task?

We've had the same tenants the last 18 months.Rent: $1,350/monthMortgage, Ins, taxes: $960/monthOur initial plan/goal was to acquire properties and hold them for long-term (20-30 years+) to essentially have the tenants pay for the mortgage and we would make a decent cash flow profit annually and then eventually have a solid asset (trying to diversify investing, e.g. not having everything in retirement accounts/stocks)Just recently the A/C had some leaks and is pretty much on it's last leg and needing a replacement (quote of ~$8-$9,000 installed + fixing leaks in duct work).

Should I build a garage and hold off on another asset?

He said that they purchased an asset with rents that have not increased in 5 years (can't remember exact amount).

You leverage the equity in your existing property as a down payment (or partial down payment) into your next asset.

I am just saying that an average young sole proprietor may not be good with accounting and doing their own taxes and if they have they cannot afford to hire a tax professional and have multiple bank accounts they may not add up everything correctly or put things 100% correctly into tax software.

The next question is asset class.

Let me know if you come across any B Assets in good submarkets.

Your tax liability would be based on your cost basis and how long you held the asset (i.e. short term versus long term), and any mortgages and liens (refi, heloc, or otherwise) would have to be paid off in full at closing if you sold the asset. 

@Jonathan Garrett Do you have assets?