It's about banking just like almost all businesses.

Property taxes and insurance are typically the two biggest recurring costs.

.: @Jenat Higaa true 'private' lender is someone you know - your dentist, your uncle, someone you work with, someone in a business mastermind with you.so if you need to 'vet' a private lender... they're not a private lender. 

Evening from Alaska, My business partner and I are new to real estate investing and trying to get our first deal going in a high-interest rate market.

Thanks Hey Patrick, Having a business bank account allows for clear separation of business and personal expenses.

Freevee is an option that has a ton of content and could cost little to nothing. 

If you're a dead set on being a passive investor, it may take you longer than if you view it as a business and you are involved in it day to day but that's just a guess.

Also, maintenance costs are almost non-existent in the first few years as very little (generally) goes wrong in the first 5 years or so.

Just so you have a frame of reference the cost of a 1031 Exchange is typically around $1,200.

For example, when I get up to “estimating rehab costs”, for me it’s like it’s impossible to know how to estimate rehabbing costs without reading an entire book on it.