I followed through and got the deal done.NUMBERS:Purchase price: $103,500 (off market deal)Closing costs: $4,409Financing: 25% down, 6% fixed 30 year noteAppraisal: $117,500Renovations and deferred maintenance: ~$10,000PITI: $673/month (tax will likely go up next year; they are relatively high in this market which is one of the downsides)Vacancy, maintenance, long term cap ex: 15% of monthly incomeManagement: ~2% of monthly income (self-managing for now with Hemlane, cost is highest for the first unit due to flat annual fee for the software and decreases as properties are added due to nominal fee incurred with each additional unit).

If I hire you as my CPA, what software would you like me to use?

I’ve been house hacking since I was a teacher and now moved up into a software career, so now have more room and resources to dive further into real estate as my way to further financial freedom 

As far as maintaining your books goes, start with an accounting software like Quickbooks.

@Justin Rademacher look into a PM software like Hospitable.com or Guesty.

You willLearn a ton and understand the software systems and processes that are out there.

We utilize a suite of paid software to qualify/disqualify properties and help with consulting, contractors, and underwriting. 

(My PM uses Rent Manager software, in case that is relevant.)Last year I manually input all the income plus every individual expense into an Excel spreadsheet, which I then sent to my CPA to prepare my tax returns.

In Cuyahoga County the window for these types of disputes opens in January and you have until the end of March or so to submit your complaint. 

I am thinking about submitting an offer on a home in my area, and want to have the “seller financing” card in my back pocket.