Hi BP, We just got a letter for one of our rental properties (it's quickly becoming a problem property for me,) and it is a "30 day notice of an intent to file a Municipal Lien" for an $8000.00 past due utility bill accumulated by the previous owner over a year before we purchased the property.   

I'm able to pay off the mortgage, utilities, and all other expenses each month and still have cash flow leftover ($200-$250).

Another thing I've been doing is utilizing a productivity planner.

PP $310k   GAR  $25400   Total expenses $6,400  (Taxes $1900, Insurance $1,300 Maintenance $ 100, Vacancy reserve $2,200  self managing, Utilities & trash and lawnservice paid by tenant) NOI $20,000   Cash flow $6,275  Cash on cash return  7.82% Now since I have never done this, I have gathered the information and plugged the numbers in where I could.

I'll need to start utilizing private/hard money to continue acquiring properties.

One benefit you may get out out of a side by side duplex is the splitting of utilities.

That could be an option, to bring in friends and family as partners or if any of your connections have sizable equity, they can also utilize a HELOC.

No HOA, ~450/mo insurance (expensive, high fire area), $400/mo other utilities. 3% maintenance reserve, 3% closing costs etc. 3.2% 30 year fixed 20% down mortgage...could likely shop for better terms with an accepted offer.I'm assuming 20-30% of home value depreciated in the first year via cost segregation study and purchase price of 1.55MM which is an "outlandish" bid well above asking I'm considering but am shocked at how the numbers are still working. 

Here are my major concerns/questions below:1) HIRE CPA: Despite this being my first property (in the process of purchasing a second), is it recommended to utilize a CPA.

Current rent is $500 with all utilities payed by landlord.