Really appreciate that insight.

Whether you're a Dallas real estate pro or a fellow newbie with insights, your advice is welcome!

In addition to the normal debits /credits of accounting, these systems manage resident communication and activity and track things like work order completion, unit status, etc. 

This journey has been both challenging and exhilarating, and I'm eager to learn and grow more in this field.I would love to connect with others who have walked this path and to gather insights on how to successfully navigate the complexities of real estate investing.

Any insight is helpful.

Additionally, there's a fixed self-employment tax.Income Tax: 22% * $70K = $15.4KSelf-Employment Tax: 15.3% * $20K = $3.06KTotal Tax Due: $18.46KRemember to account for any state taxes as well.To defer taxes entirely, you could utilize a 1031 exchange, which allows you to reinvest the proceeds from the sale into a similar investment property, thus deferring the tax payment until a later date.Example #2: Long-Term Capital GainsNow, consider a scenario where you hold onto the property for over a year.Project Details:Property Cost: $70KRenovation Costs: $50KResale Price: $200KProfit: $80K ($200K – $50K – $70K)Since self-employment tax doesn't apply, you only need to calculate the long-term capital gains tax.

Where are the opportunities to make some additional revenue.

Where I have been looking in Lakeland, the sellers aren't budging and their days on market keep going with no hope in sight.

Additionally, explore technology tools that streamline remote property management tasks, such as online rent collection platforms and smart home systems for monitoring.

Analyzing market trends and property values will give you insight into the long-term prospects of your investment.Remember, conducting due diligence and thorough calculations are essential steps in real estate investing.