Also, when using a wholesaler, I put a deposit in escrow so they knew I was serious and could pull the trigger quickly.

They can ask you to serve notice so one unit (or both) are vacant at the time of possession, but if you agree to that make sure you have a large deposit and some of that is not refundable if the buyer backs out as you will need it to cover the lost rent.

Your should be getting a monthly P+L statement from your property management company and a year end statement at the end of the year.Give your accountant your bank statement where the money is deposited and the P+L from your property manager and you are all set. 

@Walchli DonnaIs this where you take a line of credit and use it to pay your regular mortgage but put all your deposited money into a HELOC?

But I think im worried about whether or not I can get my deposit money back if someone else bids more than I have.I know a little about permit expedition, if that can help me save money. 

I don't like the fact that you can't charge a deposit (even hotels charge $50/day as refundable deposit) and for all the work, I don't think it's worth it my time.I would really appreciate feedback about Nomad services.

You want proof of deposited payments in a bank account.

Will average all deposits over last 12 months to calculate monthly income, and then depending on the type of business, apply an expense ratio. 

Thus, I instantly concluded this lending opportunity being a NO GO.

Tools like Cozy or Buildium can streamline processes.Understand Legal Obligations: Stay updated on Colorado landlord-tenant laws to ensure you're compliant with security deposits, lease agreements, and eviction processes.Effective Communication: Set clear expectations with your tenants about communication channels and response times.Regular Inspections: Schedule periodic visits or hire someone to conduct property inspections to catch minor issues before they become major problems.Final ThoughtsWeigh the pros and cons based on your circumstances.