These loans also carry higher interest rates and lower leverage and can have expensive release clauses if you want to sell one of the properties from the portfolio.

The cash flow has changed drastically and not brining in enough to cover all expenses.

Then, the higher depreciation & expenses can offset the $20k cash flow.I also considered cash out refi the existing properties instead of 1031, then the mortgage interest can be an expense.

I found it to be very helpful in tracking the expenses but being able to upload just 5 receipts per month on the free tier was an issue so had to upgrade to paid.

And someone jumping into this as a complete newbie can expect that they have a decent chance of making some expensive newbie mistakes.

It also usually comes with the bonus of lowering their monthly expenses over what they were paying in rent, but immediate cash flow is not always possible given the purchase prices in the areas most of my clients want to buy.

Good mattresses and a good couch is expensive.

Boy, you are starting off in the most expensive RE city in the country!

@Dave Van Horn I was thinking about this too, it looks like there are some nice filters that last about 10 years which aren't too expensive.

There aren't a lot of inventory in Packwood and the average home price is around 500k.