I'm Maureen Watkins and my husband and I have recently discovered the world of real estate investing.

Explore Home Depot for "window shutters, paintable" and you'll discover the issue for yourself.

Networking, I am rapidly discovering, is an invaluable aspect.

Every component as an "estimated useful life".

Like others have mentioned, the source needs to be discovered.

It's usually not until the exit when you will need to worry about any individual state filing.Also the syndicates will have your home state info and will generate any K-1 specific state info if needed.For instance I had investments in CA so I did get some CA specific K-1 I needed to fill.The only thing I did discover is every investment will generate a k-1 so adding them one by one into turbo tax can be a fun weekend activity.

Yes it is natural to feel overwhelmed when discovering something new that you don't quite understand yet.

Buying a car wash is more like buying a business with a real estate component attached.  

@Benjamin BlackburnHi BenI would find a local real estate investment club and plan to attend regularly - especially if you find one that has an educational component. 

I wanted someone to review my personalized calculator and suggest any edits.Monthly rent (and other additional perks)(less) vacancy lossGross monthly operating income (A)(less) Monthly operating expenses (B)Property managementProperty taxesUtilitiesHOA (if applicable)Repairs and maintenanceNet Operating Income C = A-BNet Annual Operating Income D = C * 12Cap rate = Net Annual Operating Income / Purchase priceDown Payment = (This is my own investment)Monthly Mortgage (Principal)Monthly Mortgage (Interest) Cash Flow Annual = (Gross Monthly operating income – Monthly Operating expenses – Monthly Mortgage (Principal + Interest) ) * 12Cash on Cash Return = Cash flow Annual / Down paymentTaxable deductionFrom Interest deductionFrom operating expense deductionFrom ownership expense deduction(Depeciation) = Purchase price / 27.5Saved in Taxes = Taxable deduction * (your income tax bracket)Increased Equity = Annual Monthly mortgage (Principal component)Total returns = Annual Cash flow + Saved in Taxes + Increased EquityROI = Total / Returns Down paymentWhat typical ROI is reasonable to expect from 2-4 unit multifamily rental unit?