If the tenants are on contract, you will inherit that low income until the lease is up.

He just contracted a great deal on an industrial property.  

I have meetings with my lawyer to discuss partnership contract and acct for the financial piece.Since this is extremely new, I am building a team of a contractor, broker, loan officer, accountant, Lawyer and investors. 

Hi all,First time investor and am under contract on a 4plex.

Quote from @Ben Whittington: Title says it all - how much do you, private lender, pay for attorney's to prepare your loan documents (contracts, promissory notes, deed of interest, etc.) and where are you located?  

They don't talk about state specific title companies and contracts.

Review your contract and see if there is a simple way to terminate your relationship.

Digitize physical receipts for easy storage and use a consistent naming convention for easy sorting - 2024.03.25 Home Depot.Maintain proper records, such as contracts, settlement statements, and promissory notes.Additionally, you can track income and expenses consistently using software or spreadsheets.As you scale, if bookkeeping isn't fun, consider hiring a bookkeeper for a couple hundred bucks per month.

We offered 30K under asking and got it under contract, after the inspection we were able to renegotiate another 10K off of the property due to repairs needed.

I have a signed contract.