@Jeff S.A lot of our users use Xero for the accounting portion.  

If you are familiar with your market, you should have a good idea what range your unit should rent within; let's say $300-$1200 is the range of apartment rentals based on area, amenities, size, etc.

A small caveat, I am on site every day for a good portion of the day which helps immensely in the process, if you are hands off it could lead to a longer process.  

A mixed-use property won't qualify for FHA financing unless you can show the lender that you will live in the residential portion and operate your business in the commercial portion.

Here's an example: A free and cleared duplex is owned by two siblings, Bob and Joe, and each own a certain portion of the property.

Feel free to message me with where you are mainly looking for deals dollar size and if anything comes up I'm glad to send it you way.Thanks,Raj Mulchandani

We are fortunate in our market that it is standard practice that tenants are billed back a portion of the water and garbage.Let's say the tenants each get billed back 30 per month, that's 300 per month and a total of 3,600 per year.  

It helps you build credibility with other professionals (you know HML, Contractors Etc.)In AZ I learned from my CPA that from the founding of my LLC I can write off my entire cell phone and internet bills at home as they are essential in my home based business of real estate investing, without the LLC I was only allowed to write off the percentage portion based on the square footage designation I gave to my home office space, that is 10% in my case, which I still can use to write off part of my electric and mortgage payments since it is still used as home office.You can start building your brand now, rather than waiting and hoping that no one takes your company name/idea...

Nice doesn't mean good.Still do a back ground check.Are they responsible for a portion of the money?

You can take it up another level and if you end up in a place where you have a modestly sized 2BR you can find a roommate and have them pay half the market rent for the unit and split the utilities and then you could be in the living free/making a small profit area there.