We’re one of the few property managers that require W-2’s and a bank statement and we go way beyond the traditional, “income must = 3x rent” qualifier.Below is more information about what our Applications Department does to screen applicants and find the best tenantspossible for your property.Required InfoWe require the following from each applicant over the age of 18, that is not a dependent of anotherapplicant (as evidenced on a tax return):Copy of acceptable state picture IDRecent YTD paystubRecent W-2Recent Bank Statement, all pages, no info blacked outRecent tax return if self-employedCredit HistoryMany companies use credit summaries, but we find these rarely tell the whole credit story.

@Marisa VoelkelI think having properties in their own LLC is not necessary for the reasons that @Andrew Syrios and @Benjamin Aaker mentioned.It depends on your risk tolerance and ability to keep organized.

Get your finances in order, get a pre-approval, make sure you can spend that amount and still have 15k in reserves and solid income before you buy anything. 

There are a few Categories that I have broken into their own calculations considering there may be cost savings depending on strategy employed. 

Hello - We will be launching our first vacation home in Blue Ridge, GA, and I'm searching for reliable and dependable cleaning and maintenance partners. 

You might want to speak to a real estate tax pro about both of your unique situations tax wise, and the possibility of having a multi-member LLC set up for you.

Property tax will be near $180/month.  

They will line you up with several pre-screened, licensed/bonded contractors that do the work you need.

However, I have a few concerns:Pros:Living condition: 1400 sqft → 1700 sqft with some boutique featuresThe rental market seems good in this area.Another property is added to my existing real estate portfolio, which currently includes two other properties.Cons:Interest rate: 7% - No guarantee of decreasing the rate, which means there might be no opportunity for refinancing in the future.The current home is too new to be rented out.People often say not to buy property in Chicago due to high taxes and low appreciation.There’s no necessity of moving since I have a decent primary home.Any professional advice would be helpful. 

TAXES.