The PMS around here are pretty terrible, I've worked with a lot of the larger ones in Cleveland and I think they just take on more properties than they can effectively handle and don't hire enough additional employees to make it work. 

*Older systems contained insulation with additives that may oxidize copper wire. 

Hey Tim, If you are not using Hospitable yet that would be my first addition.

In addition, you still need to meet the IRS requirements for material participation in each property or elect to group themBased on what you say it sounds like it would be challenging for you and your wife to meet these requirements unless she gets involved in more real estate activities that qualify for REPS hours. ...

The plan is to use the heloc to purchase additional properties, and basically brrrr and pay back the balance - then repeat.What I didn't realize is how difficult it is to find a business heloc.  

Since seller-paid fees usually cover their services, you get local expertise without additional expenses.Final ThoughtsLive where you like, but invest where you can achieve financial freedom.Out-of-state investing has proved to present excellent opportunities.

Best to call city hall for the town you are buying in to see what if any rent control rules are in place. see link below if you require additional information and call the Jersey City Landlord Tenant relations office. https://www.jerseycitynj.gov/cityhall/HousingAndDevelopment/...Jersey City CPI chart on recommended rent increases: https://cdnsm5-hosted.civiclive.com/UserFiles/Servers/Server...The state with the highest eviction rate in the country right now is South Carolina. 

This initial negative equity position consumes the initial cash flow.  2) the addition of the adu makes the property multi family and likely makes rent control apply.  

Feel free to share updates or ask additional questions.

Additionally, those forced to relocate due to the fires should update their address with the IRS to ensure they continue to receive relevant communications.