Keep track of expenses (look up IRS schedule E categories) that relate to your unit and the rented units.

I've been considering transferring my career to full time real estate.

I have a $2,700 expense for a pool liner, for example, which I'd rather just add to capital cost of the building instead of depreciating it.This is a personal 1040, with Schedule E for rental.

I highly encourage all of you to get set up on e-pay so you don't have to make unnecessary trips to the bank.

average p/e was really high before crash. 

@Brett Peters @Lynnette E.

THEN create the LLC and transfer the ownership to that company.

However if you are transferring the money from retirement account to real estate, it’s just moving your funds from one I’ll-liquid account to another, in the form of equity.

Then when you moved in, your fee would transfer to a damage deposit.

It's a full time endeavor for me and I always filled as a real estate professional with schedule e before.