My name is Brittany Gregory I have been working as a administrative assistant and virtual assistant for Realtors and Real estate brokers since I was 15, a little over ten years now. 

I prefer to operate based on what is best for me and have the experience to do it safely.One of the easiest legal ways to target seniors in screening is to have higher than average minimum credit score requirements.

Why do you not include your monthly mortgage when subtracting  operating expenses from your Net income.

What do you do to keep your rekey/locksmith charges down? We have Kwickset Smartkey locks but are they legit for multi-family use? What about mailbox keys?

I know that this is more a local problem with the big growth my building area is going through, mainly because of the smaller sizes of the cities and towns, in which I operate.

There are so many apps now that allow you to manage virtually.

@Kirk WatkinsPartnership entities have so much flexibility that you can literally allocate income/losses in anyway shape or form.You just need to find the partner to agree to the terms that you want.You would then need to find an attorney to draft up the operating agreement/partnership agreement.

You’ll be cashflow negative equivalent to the interest of the HELOC.Purchase price: 500kHeloc: 120k (20%) - approx $500 monthly interestMortgage: 380k - Approximately approx $2000 monthly interest and principalAll other operating costs (condo fees etc.): $1000In this scenario let’s imagine that you might be able to get 3k (doubtful but lets dream!)

The only LOC you're going to get is one attached to a stable asset (such are your primary residence), or a Business LOC if you have an established, profitable business that needs operating $Good luck!

@Joseph PuglieseIf your business is accrual basis and previously accrued the revenue and included it in taxable income, yes you could write off the bad debts.If cash basis, you don't get to write off revenue you never received as you never were taxed on it in the first place.There are extremely limited exceptions to this, particularly if you're cash basis and recognized the revenue under constructive receipt, however I suspect your fact pattern is not that complicated.You can deduct your normal operating expenses of the rental.Your CPA is best equipped to help you deal with this.