Look not only what it would rent for, but focus on what the net income is after mortgage, property, taxes, insurance, etc.

Sure you have expenses and income tax, but still.......?

Hi Folks,How much did YOU pay your CPA for tax preparation and filing 2016 taxes?

I will share my "Most Expensive Lesson" in the comments.To kick things off, here are ten examples of expensive lessons or mistakes in real estate investing:Underestimated Repairs: The classic pitfall where the cost of repairs and renovations far exceeds initial estimates, impacting the overall budget and profitability.Tax Liens: Failing to account for or being unaware of existing tax liens on a property can result in unexpected financial burdens.Contractor Liens: Not settling payments or disputes with contractors can lead to liens against your property, complicating sales or refinancing.HOA Fines: Overlooking or violating Homeowners Association (HOA) rules can lead to significant fines and headaches.Bad Loan Products: Opting for loan products without fully understanding their terms can lead to unfavorable financial conditions, such as higher interest rates or unfavorable repayment terms.Ignoring Zoning Laws: Investing in a property without a clear understanding of local zoning laws may restrict its use, affecting your investment strategy.Overpaying for a Property: Lack of research or getting caught in a bidding war can result in paying much more than the property's worth.Neglecting Due Diligence: Skipping thorough inspections and background checks can uncover unpleasant surprises after the purchase is finalized.Poor Tenant Screening: Failing to properly screen tenants can lead to unpaid rent, property damage, and costly evictions.Underestimating Market Risk: Not considering market fluctuations can lead to investments that don't pay off as expected, especially in volatile or declining markets.We've all been there in one way or another, facing setbacks that seemed daunting at the time.

It's frustrating, but with low taxes, relatively low insurance and no mortgage payment, I am flowing about $12,500 a year just from that one house (less than 5 year ROI). 

The original bill, talked about here, would quadruple the property taxes on any home operated as an STR for 90 days or more in a year.

For our planning clients we use software where you can link all of your accounts and manually enter too, and so it operates initially like Mint but goes way further with great analysis in all core areas, particularly taxes.  

Hello BP Community,Hoping one of the tax experts out there can provide me some clarity. 

The principal and interest payment will remain the same, but the loan payoff date will be escalated as you make extra payments towards the principal.The details of your monthly payments should be available on your monthly mortgage statement as it lists the principal, interest, taxes/insurance escrow, and PMI paid that month.

Everyone says pull "absentee owner" pull "tax delinquent" pull "tired landlord" and the list goes on.