If Jesus came back and got into rentals NO, N-O-B-O-D-Y get's admin access into our system. 2) They want a standardized list for maintenance items so they know in advance what repairs would cost.Being a PMc I'd invite them to acquire any of the readily available construction estimating tools/software out there such as RSMeans, but would not take on such a task as building and maintaining such a database, honestly for any $, it's simply not what we do. 3) They want a copy of all invoices from contractors to us so they can verify we are not marking up more than promised.A-ok. 4) They want to be able to talk to our contractors before work is done (each time) so they can talk contractors down in price themselves.I'd be fine with this as long as they sign a waiver that they own any/all negative impacts that result from such including extended vacancy periods, vendor refusals of service necessitating there own self-search to secure amicable vendor etc etc.. 5) They mentioned that they pay around $300 for full paint in a 2-bedroom unit.... we do not have a contractor that will touch a full paint on a 2 bedroom for $300LMAO!

I personally invest in Sacramento, mostly equity plays on buy and hold rentals, but am starting to flip properties again.

Hello BP community,I am a relatively new landlord, who has a few out of state rentals in South Carolina that were managed by a friend and his property management company.

@Joe Carpyou can buy rentals with a DSCR loan, and they will not require W2 income like a conventional bankhowever, down payments will be 15-30%, so will use up your cash fasthow to scale as we sink money into each property is definitely a major challengei have done a couple successful BRRRRs that helped preserve capitalhope this helps

If you take a loan out that is specifically used for a business expense, such as paying for a rental property down payment or rental repair, then the interest paid for the loan is generally tax deductible, regardless of the source.  

With investment properties, any kind of rentals, I often see the story where the owner walks away due to some major repair issue, like a caving in basement or maybe a string of awful tenants drove them away, but in either case, its NOT AT ALL because there's no way they can continue to pay the mortgage payments, its a financial decision and many times may be the best one they have available at the time!

I try to keep what I can...I now have 10 rentals, but some I flip.  

You are going to loose out on a lot of income by doing this .If your cleaner cannot complete a same day turn - time for a new cleaner You would if you were running a 53 acre ranch in Texas with significant additional logistical requirements and maintenance needs (both expected and unexpected) beyond what an average short term rental requires.  

So the question is, does your rental activity qualify as a trade or business or just a passive investment? 

My first Detroit rental was a S8 occupied home in 2019.