Hi all,I purchased a two-unit home a few years ago as my primary residence with a conventional loan, and was told by an accountant that there is no reporting or extra tax forms I need to file as long as my tenant in the upstairs unit is paying less than the total of my mortgage.

Anybody on there is paying to be on there, and paying more for every lead that comes their way.

what is a reasonable amount to expect to pay a book keeper or CPA to do my books once a month?

We'd be paying for the property in cash but need approx. $150-200k to rehab the home.What is the best way to secure the loan?

Pay them well.

Anyways, I look forward to the journey, and potentially connecting with you all.Thanks,Grant Congrats on the debt pay down progress and committing to your journey! 

This creates two loan payments ($100,000 of equity and $300,000 on the new mortgage).Key NumbersHome Equity Loan Interest Rate: 6%Mortgage Interest Rate: 7%Rental Income: $3,000 per monthExpenses (management, taxes, insurance, maintenance): $800 per monthIncome and ExpensesMonthly Rental Income: $3,000Monthly Expenses: $800Monthly Mortgage Payment: $2,000ExplanationThe investor earns $3,000 in rent each month.They pay $2,000 on the investment property mortgage and $800 on other expenses.This leaves $200 profit each month or $2,400 per year.However, you have to pay $6,000 interest on the equity borrowed.This leaves you with an annual loss of $3,600.This example shows that while the rental property generates positive monthly income, the interest cost of borrowing the initial $100,000 results in an overall annual loss.

You’re gonna pay a premium up there for that.

As a listing agent, I let my seller know it can trigger the due on sale clause and they lose control of the home but still responsible for the mortgage if buyer doesn’t pay, so most aren’t interested unless it’s a special situation where they really need out and no real buyers out there.

one of the partners that we went in on the deal with owned two other car washes nearby that are self-service wash style you mentioned and although our full service wash had a much higher average ticket value and overall more revenue, his other two washes averaged less than 1% in labor cost where our full service was would be between 20%-30% on any given day. we ran a detail crew of around 5 people and then had around 10 or so people on hand to handle the car wash traffic. we tried to get away with not hand drying the vehicles after they exited the wash but the previous owner had made that a staple of the business so when we stopped doing it people got frustrated and we decided to keep that a part of the process. in doing so that means you have to pay labor tax!