@Jeanette LandI always recommend using a tax professional.

Focus on absentee owners and start with the ones who live the farthest away and only own one property in the area since they have the least use for the property.You can also drive for dollars, looking for anomalies of disrepair and then look them up in the tax records and use a site like Spokeo to do cheap skip tracing.

You get to harvest the equity tax free.

@Tiffani HollisFor a long-term rental, I’d avoid used dishwashers entirely—repair costs and reliability issues often outweigh the savings.

However, this means you’ll need to comply with the annual filing, franchise tax, and reporting requirements in both states.

Given today's market.But conservatively, at those prices ($1,100 studio, $2,100 house) they would bring in$38,400 a year. 53% of that would go to fixed expenses ($899 mortgage @ 2.15% interest, $5.8k property tax, $4k house insurance).

What paperwork should I keep a paper trail of to make things like taxes and other situations better/easier for myself?

Then there’s this glorious tax season where you realize how many things you get to deduct that others can’t, while sheltering your income with depreciation, and earning tax free income with appreciation.

This dedication can help you avoid becoming part of the 70%-80% of new agents who leave the industry within their first couple of years.

On top of that you have lower taxes, insurance and a lack of HOA's.