Obviously, this can impact your overall cash flow. 6) it’s important to find an agent that knows the area well and understands how to work with an investor, as the process is very different than buying a primary residence. these are all things to consider, and there is going to be a learning curve associated with the process.

Im trying to fine tune my process to be more future oriented and not outdated. 

Hi Mohammad -I am working on a new tool to make real estate investment analysis a data-driven process.

get an umbrella policy to protect yourself, see if you need a rental license in your municipality. an LLC is only for insulating you for liability and anonymity, it will not save you on taxes and you really dont need to worry about it with one property imo . you cant protect a single property from lawsuit, insurance is what covers you just make sure you’re up to code. insurance will always look for a way to get out of covering an incident.if you register, you’ll want to report the income. if you make less than expected after deducting costs, then it’s time to raise rent. you wont be able to reduce more to reduce other income streams since you're not a full time real estate investorin the future if you ever sell, because it’s a rental now you will owe capital gains on the property. philly is probably like ohio and not california with it’s YoY growth being tied to inflation. with that said your profit is mainly going to be the equity you build from your tenant paying your mortgage. the money earned monthly should be saved as youre doing in case you have a capex repair/replacement come in like HVAC, roofing, etci advise you pay for an hour to speak to a CPA to better your options.good luck

Hi, this is my first post and I am in the process of owning my first property! 

Having not navigated such a process before, I believe partnering with a builder/developer would be ideal.

Hi Keetaek -I am working on a new tool to make real estate investment analysis a data-driven process.

If you make false statements over the computer or telephone about your experience or the performance of your past investments and it induces someone to send you money that is what the government calls "wire fraud."

In fact, I just bought a new primary house and the process was harder than normal because I had to prove I had no lates for the past few years. 

Consider high-yield savings options, too, for potential interest earnings.