Escrow then balances the file gets it ready to fund, overnights loan docs back to the lender.

Then went to the bank and wired them the balance at 10am.They are supposed to confirm receipt and get things executed.

I use Paypal to request funds from tenants that do not already have their own ACH solution; some of them already have a pay-out service via Chase Quickpay, Capital One P2P, or old-school auto-ACH via their bank.For tenants that setup their own ACH through their bank, they pay their normal rent; for those use Paypal for debit/credit card to pay rent, they get a processing fee added to their rent balance.

See below:Purchase Price $350,000Downpayment (25%) - $87,500Loan Amount: $262,500Loan Details: 30 Year Fixed Mortgage at 4.5%Gross Potential Rent: $2,200.00Loss to Lease/Vacancy - 5%: ($110.00)Monthly Principal and Interest Payment: $1,330.05Monthly Operating Expenses: $627.00Monthly Cash Flow: $132.95Cash on Cash Return: 2%Year 1 Appreciation: 5%Year 0 Value: $350,000 + 5% Appreciation = Year 1 Value $367,500Principal Balance at the end of the 1st Year: $258,265.26Principal Paid Down over the 1st Year: $4,234.74Depreciation:Value of the Land (not depreciable): $35,000Value of the Building (depreciable): $315,000Depreciable Years of A Rental Property: 27.5Annual Depreciation Expense: $315,000/27.5 = $11,454Estimated Tax Bracket: 22% - Tax Savings on Depreciation: 11,454*.22 = $2,519.88**Depreciation recapture on sale**Total Year 1 Cash Return on Investment: $1,595.40Year 1 Appreciation: $17,500Principal Pay Down: $4,234.74Tax Savings (Depreciation Expense): $2,519.88Total (Unrealized) Return on Investment: $25,850.02 or $25,850.02/$87,500 = 29.5% ROI

Also if you decide to convert the property to a long-term rental the improvements may be added to your capital basis & depreciated over time.Track Expenses by Account - Helpful for reconciling bank accounts & credit card accountsSave receipts/invoices of contractors#2 Liabilities / Outstanding Loan BalancesIf you are using outside funding, you will also want to keep track of your outstanding loan balances that you owe for each property.You can do all of this in an Excel spreadsheet by just creating columns for Category, Vendor, & Accounts. 

Unless, you terminate your employment, you generally cannot withdraw 401k balance as distribution.

Specifics for this building:This is a long term hold.Looking for balance of soundproofing and lower long term costApartments are one 1br and 3 studioLocated in lower income area so tenants will be hard on flooring and will have a higher turnover rateCurrent upstairs floor is 2 inch hardwood planks attached directly to joists.Ceiling below is 12ft high finished with a combination of plaster/drywall Wondering if anyone has had something similar and what worked for them?  

It's a supply and demand balance.

. $400 per month is $400 per month, does not matter if it's a car loan or student loan.If no payment appears, then 0.5% to 1% of the student loan balance will be treated as if that were the monthly payment, depending on the loan program.There's some other nuance,  but that covers 90% of cases. 

Always a balance of not having them overreact to everything and call you about every tiny thing and them being scared or ignorant enough to not call you and cause more damage by ignoring a real issue.Many lease have the "tenant is responsible for all repairs under $X", but that still presents the issue of tenants ignoring an issue because they have to pay for it and then a $75 issue becomes a $1500 issue because they cheaper out and now you have to battle with who is responsible for that bill