Quickbooks and HIRE AN ACCOUNTANT to help set it up and run it.The biggest mistake I ever made was waiting too long to get professional accounting help.

My wife is in the same industry but I have made an industry change.

I just completed my second course in my real estate license and the instructor made an interesting point of how a registrant must disclose all known facts about the property.

When we found this instead it really made it hard to consider a student rental at that point.

Keep in mind, however, that when you pay your 401k payments are made with after-tax funds which means you will have to pay taxes on the interest payments when ultimately distributed form the 401k, usually at retirement. 

I write and teach to share both the mistakes I have made (many) and the lessons I have learned from them.  

Luckily, I was thinking fast and made a move before any of them could do anything.  

Hi @Raj Pandian,You just made one of the best networking decisions available!

After all was said and done, we had made $100,000 while I was working full time as a math teacher making about $40k a year, but with summers off.

If fixed up and made rent ready, could the local rental rates cover the mortgage payments?