He has been in business for 20 years but has only been on paper for 3 years.

When they asked for IRS papers to file for the year, nothing was sent.

, each property should have own file folders, there are punches that you can use with fasteners to keep orderly, I prefer digital and paper copy, computers fail, hard drives crash, papers get lost, Wisconsin isnt as paperwork heavy as some, you will also want a rent log of each property you can make up a master for that, with security info with it too, when we went digital(ages ago) I was the one to first teach our realestate office computers, and still see them fail so keep meticulous notes, it will actually be easier not harder

They're much cheaper and will typically cash flow much better on paper than other areas.

:D.With that said, the number one thing I hate dealing with in rehabs is toilets.

So when their precious little angels flush toys down the toilet they pay for it to get snaked, and when Spot chews up the blinds they pay to replace them.

While a few are located in B areas and fairly well-maintained in our "historic" part of town, most are located in C-D areas.When I run numbers on these properties and see that some look pretty good on paper (ran across one today that checks out well on paper), I can't help but to always think that with an older property, one age-related structural or foundation issue, one sewer/plumbing issue or electrical issue can quickly and easily wipe out more than a years worth of cash flow, and the building won't be getting any newer for as long as I own it.

Just wondering, I really like the idea of no tenants and no toilets.  

I have real world stats that trump paper stats.

Wall paper removal in bathroom, kitchen, master bathroom.- should come of walls ?