For the same features, you'll pay around 40% less with Xero.In terms of features, Xero is just as good as QBO, if not better.

When conducting research on Tucson as an investor from out of state, pay attention to certain industries that are driving job development, local market statistics, property managers' insights, and online investment forums to obtain a deeper understanding than just surface-level facts.

We would be paying more monthly i we bought the place than we would be if we were just purely renting. 

I am in Cape May, and we are allowed to do as we wish down here, although the season is a 7-day minimum.You actually stand to do well and have less expenses and wear and tear from multiple turnovers, but those 30-day tenants don't grow on trees, so you are going to want to market hard.Please tell me you aren't relying on AirBnB in NJ - Tenants pay 20-30% more here and you get none of that overage - booking direct saves them that service charge and taxes, so you could actually up your rent and collect more yourself and they'd save $$.

So you're going to have carrying costs with this , as well as opening the door costs , as well as capital injections by both parties of an amount to be able to pay the bills of the llc just to survive as well as to grow business for yourselves . 

I would stay away from long term contracts and pay by the month to start if you are using a service and then after you have real world experience with it, you can sign on for a year for the discount.

You could even negotiate into the contract that if the neighbors qualify you don’t have to pay the full leasing commission If needed some cash you could always do a cash out refi and take a small amount out.

Sometimes you will do bad and you will be stuck holding the bag and NOBODY will bail you out.If he did a great job give him more business, pay him on time, answer your phone when he calls, and support his business.

In fact, you should pay for property maintenance, not expect the tenants to do it.

Meaning that if your expenses exceed your expectations, or your vacancies/non-pays exceed your expectations, and you don't have enough buffer in place, you'll have to come out of pocket to avoid losing your assets.