These are some of the ways the clients could be affected by property managers who are not prepared: Extended VacanciesInadequate marketing strategies and tenant screening processes can result in prolonged vacancy periods, translating into substantial lost rental income.High tenant turnover due to poor resident relations further exacerbates vacancy losses.Inadequate Maintenance and RepairsNeglecting preventive maintenance and delaying necessary repairs can lead to accelerated property deterioration and higher long-term repair costs.This can also negatively impact tenant satisfaction, contributing to higher turnover rates.Legal and Compliance IssuesLack of knowledge or disregard for landlord-tenant laws and regulations can expose investors to costly legal disputes and penalties.Failure to properly handle security deposits, evictions, or fair housing practices can result in significant financial liabilities.Ineffective Financial ManagementInaccurate budgeting, expense tracking, and financial reporting can lead to uninformed decision-making and missed opportunities for cost savings.Failure to optimize tax strategies and leverage available deductions can further reduce net returns.Diminished Property ValueInadequate maintenance, high vacancy rates, and poor tenant screening can negatively impact a property’s perceived value and appreciation potential.This can significantly affect the long-term return on investment when it comes time to sell the asset.While a 10% management fee may seem reasonable for a well-performing property manager, the cumulative impact of mismanagement can quickly escalate the effective cost to investors, potentially outweighing any perceived savings on the management fee itself.

Probate, tax liens, pre-foreclosure, expired listings, etc.

As long as you have stable income, most banks will lend you some amount.

My family member struggles to find decent tenants year after year and the constant increases in property taxes are killing her cash flow.

Current rent is $850 and the house is for sale for $170k, property taxes are $2,623/yr.

Hello,I had two properties under my name that I transferred to an LLC where I own 20% interest. This is screwing my DTI when trying to purchase a new home as my homestead because all the debt is in my personal report ...

Current income is around 450k on W2s.

I really like the equation, though, because it does encourage/provide the idea that house hacking can truly increase your personal net worth and be a better option than for example  (having a relatively higher income in town A but you rent versus lower income in town B but you house hack -- the NWROI may tell you house hack in town B!

I want a simple place to track my P&L's and tax implications like accumulated depreciation and tax deferred tax losses. 

But you've already paid a truck load of taxes by getting so much for the option.It is possible to sell the property without the deed transferring.