You'll have depreciation of roughly 20k a year for the next 27 years so that means your 5k profit will be tax free plus you can offset your regular income and maybe save 3k in taxes there.

Learn which version is right for you in this detailed QuickBooks Online plans comparison guide:- QuickBooks Online Simple Start: Have employees and issue invoices regularly- QuickBooks Online Essentials: Assign hours worked to customers, track bills due, and provide access for up to three users- QuickBooks Online Plus: Best for retailers, wholesalers, contractors, and other small businesses requiring property cost, inventory tracking, budgeting, and access for up to five users- QuickBooks Online Advanced: Best for small and midsize businesses (SMBs) seeking fixed asset accounting, advanced reporting, custom user permissions, a dedicated support manager, and access for up to 25 users You can use it as a property management software to track lease dates, record maintenance request and moreNothing is confusing to use if you learn it.

I wanted to introduce myself as I am incredibly anxious to step foot into the incredible world of REI and would love to know if there are any local investors that meet/would like to meet on a semi-regular basis.I currently have a full time job in outside sales in the Arvada area so I do a lot of driving around which enables me to spend a lot of my time listening to podcasts and educating myself but I would love to get to know some players within my local area to really dive deep into the subject and in which I could potentially be of value in the future.

You need to know the market well, have enough reserves for inevitable expenses, and closely monitor the asset’s performance.

You can't do it the same way as a regular IDX feed.

Kinda hard to tell when someone leaves if they're always on the road anyway (I think I saw him once after they started renting) and I can't be there everyday to monitor the situation and they don't tell me otherwise.

But I regularly find on market deals for well under 50% ARV.

I was going to run an STR in the home and he would enjoy a higher rent than from a regular LTR rental AND he would have the property managed too.All was going beautifully.

Regularly treat the line with a product like this: https://www.amazon.com/Roebic-FRK-1LB-Foaming-Killer-1-Pound...Save up money because you will need to replace that line eventually.

I own regular apartments as well and I've found that I don't spend any more time managing the rooming house than I do with regular apartments.