He started to tell me about "hidden" concessions that can sometimes be missed.We are all familiar with front-loaded concessions to get a tenant to sign the dotted line to come live at our property.However, we don't always think about the back-end concessions that could occur and do occur.This is where a tenant is told that instead of being provided 1 month free up front, that they will get 2 months free at the end of their lease...or whatever the concession may be.Sellers will sometimes use this tactic to get their property leased up prior to sale to up the NOI and you don't find out about this until you close on the deal...months down the road.Then when those concessions come due....you are stuck with much lower cash flows than originally expected.The best way to protect against these types of hidden concessions is to perform your proper due diligence including a very thorough lease audit. 

If you're looking for a lower price point the blue collar areas like Raytown, Grandview, parts of Independence, North of the River or parts of the Kansas State side seem to do well for investors..school systems become important in these areas so keep an eye on that.

That's why I have to also consider finding independent assessors, though I haven't really heard of this so maybe that's not really a thing people can do.

Hey Brandon,Yes, you should have an Independent Contractor Agreement signed by your contractor, as well as a detailed Scope of Work, Payment Schedule, W-9 and Proof of Insurance.Independent Contractor AgreementThe Independent Contract Agreement outlines the terms, obligations and responsibilities of both parties to the Contract.

You can even invite your accountant on to check your audit trail for mistakes if need be.

Find some time to be around your loved ones, no matter how hard it is (im really independent, and I like my space).

We do a lot in the suburbs outside of the 435 loop such as Independence, Raytown, South Kansas City and Grandview.

You sign a (IC) Independent Contractor agreement.

SO, my questions to you tax experts out there are...How likely are they to get audited (I mean the purchase and sale dates are right there on their returns!...

I'm loving Brandon Turner's Financial Independence Blueprint.