I am currently a landlord and hate it so want to try flipping but need to get my income organized and savings higher.

Once I've got my 3 AirBnB reviews and a good list of client organizations, I'm confident I can make $1000/month in year 2.EXPENSES & ASSUMPTIONS- Costs are about $4600 a month ($4000 in rent plus expenses of $500-$600 including utilities, wifi, renter's insurance, supplies, etc.). - 20% vacancy for most of the year- 15% discounted AirBnB rate for first 3 bookingsREVENUES & ASSUMPTIONSI'm anticipating rent revenues of:- $5500 for December (collected already)- $4600 for January-February (break-even, including 15% discount)- $5000 from March-May (including 15% discount)- $6000 from June-September (assuming just 10% vacancy in summer) - $5500 during Oct-November.Once I book it out 5-6 months in advance, I can "introduce" my cautious wife to another rental home and start scaling the business...Thank you folks for your wisdom!

I need help organizing my rental property finances, R.E.

I was interested in her organization but seems hard to learn about that from a friend.

if the plan is to  rent the present home you just refinanced  and buy a new  " owner occupied "  property -  you should be fine to proceed  without any unique or special fees  being charged

If you are disorganized, have trouble keeping proper records or don't want to deal with the complexity, then an LLC is not for you and using umbrella policy is a must for you.In my case, I believe that I am borderline OCD and I love the intricate minutiae of having a very organized structure.

Taking a cue from a post in multi-family,  thought it would be extremely helpful to organize a single thread with anyone who has completed at least one strip center deal and is willing to help/answer the questions of others.Please comment if you meet the criteria listed above - thanks!

You will find that this law provides default provisions and options on their content and placement (Articles of Organization which are filed / re-filed with the state when changed - for a fee - and/or Operating Agreement which is not filed with the state and may be changed by your LLC's governance structure in accordance with the Articles or Agreement with no state fee ).  

Your attorney or tax advisor will be able to advise you correctly based on your own unique circumstances and objectives.

Then for each new unit I try and source some unique items, or good deals used, and replace those items in the list of new items.