Just know that getting more bids later on may come in lower or higher so account for that...for a first time flip just go ahead and assume you’ll spend more than you think.

Richmond VaI am thinking about hiring a property manager to collect the rent, and pay the HOA fees while depositing the remainder in a bank account for my mom and I to access.My working budget is $300k and I am looking to get a minimum of $1.5k-$2k per month in rents.Insights welcome

So I signed Lease Option with this homeowner, but she still owes two payments for the burglar alarm company. I'm trying to get her to talk to the company but she's not very cooperative. Her phone doesn't work well eit...

(Tip: In the lease for multiple roommates, I do break down how much each roommate pays with a different "cents" which helps identify in my accounting who is paying. 

$975,000 Asking Price 7/13/2017 $900,000 Asking Price 10/18/2017 $850,000 Asking Price Here are the numbers based on the agent ($9525/month rental income as of today):Total yearly rent (based on 24/39 lots rented): $114,300Expenses (agent estimate): $30,000Management fee: $19,200The agent said the current owner never kept good accounting and has had some trouble managing the park.

I’m sure you already know this, but don’t forget to take into account vacancy, repairs, capex, maintenance, utilities, etc etc.

I did get a call from them shortly after I created an account on their website just to get more info.   

Choose a tax year accounting periodBusinesses typically figure their taxable income based on a tax year of 12 consecutive months.

You should take into account the expenses that go along with it, taxes, insurance, are you going to keep the utilities on you will need heat if you don't want pipes to freeze or you will need to winterize the property, if you are financing you will have those costs.

Account Closed You can use the a portion of the rental income as part of your income on a new purchase.