It's generally a good idea to keep rental income and expenses separate from your personal finances.

These sites allow you to collect rent, track maintenance requests, and manage expenses all in one place, often for free.

@Rolando De la Cruz I love your plan!

No added value yet, we plan to build an ADU in the future.

Plan for Economic Downturns- Emergency Fund: Maintain a cash reserve to cover unexpected expenses and vacancies.- Diversification: Diversify your investments to reduce risk, including different geographic locations and property types.Your excellent credit score, lack of personal debt, and existing portfolio put you in a strong position to expand.

You'll use the CAP rate and DSCR (calculated differently than how most lenders on here do it...more expenses are added).

I started a little before you and did pretty well until notes started becoming more expensive and difficult to find, and then I switched to other strategies.

You might be asked to pay an extraordinary sum, maybe $5,000, for the program materials or to attend additional seminars and boot camps.Or, you might be tempted by a program that doesn’t cost much only to find out later it is bait to get you to purchase even more expensive products.

This means, site plan has been signed off by the county, building plan is approved, site has water, electricity, and sewer/septic.

Taxes and interest are expenses.