I recently bought a 4plex and I was told one of the 4 tenants did not always pay on time, so no surprise in my first month there was, you guessed it, one of the tenants did not pay.

You recover and pay ordinary taxes on the depreciation you took, or should have taken, and then you pay capital gains on the profit.

We use a YTDpaystub and last year’s W-2(s) to calculate income several different ways:Hourly or salary income calculated to a monthly amountYTD income divided by number of YTD monthsYTD + W-2(s) income divided by the corresponding number of monthsIf these numbers vary too much, then we investigate and require an acceptable Letter of Explanation.Employment StabilityUnless an applicant has exceptional credit, we strive to determine their stability of employment to make surethey’ll always be able to pay the rent on time.

Most attorneys won't mess with taking a house from you, paying fees, and auctioning it if the bank owns 60 percent.

I well say if you break down all the bills the HOA is paying, good chance you would personally be paying out a similar fee.As for the actual revenue I would want the address to see the property.

My problem is I'm trying to 2 more properties this year, and pay with cash.

@Katelin UhinckIf the commute is an issue you could buy a property that cashflows to go toward personal expenses and still have the long term benefits of having renters pay off the mortgage.

One thing that we have done is to actually sell a property with a lot of equity and then use the proceeds to pay off the loan on another property.  

Who pays utilities?

If you decide not to utilize a 1031 and pay 30% taxes each time, after 10 transactions you’ll be left with a little bit over $2,000,000.