Everyone seems to recommend separate bank accounts for the business (as landlord, collecting rent, paying expenses, repairs, etc) and personal.My question is, since I live in the small unit (maybe 40% of the sq footage of the building) and rent out the other 60%, it's unclear which account I should use for the roof replacement that is going on right now. 

Each property had a range of repairs, but I still figured it was a good deal since it was so below market.

So the passive income is great, but understand that repairs and unexpected expenses will cut into that from time to time. 

I’m curious, how often do you repair the condo or make improvements to it?

what about the expenses and repairs?

I would also add on that you should ask them what deals they have closed in the past and ask them for some details on those deals so that you can see what numbers they work with, their level of detail, and if their deals make sense to you, because as you will see in this industry there are a lot of people who think they can make a quick buck and have absolutely no idea about finding a reasonable ARV, repair estimates ballpark, and/or calculate closing/holding/financing fees that buyers will incur.Also, make sure that they actually have the original contract to the house if they're assigning it to you because some people try to wholesale other wholesalers' deals and it's a mess.

Good Afternoon Investors,When quick screening potential BRRRR deals, many variables can be found online such as after repair value, market rent and property taxes. 

Hello Investors,I understand that hard money lenders will lend on the value of the asset as well as on the repair costs. 

A quality PM is CRUCIAL in preventing unnecessary losses at a property and can save you many headaches and unnecessary expense.

Same with major repairs on a rental.