I don't know if there is a defined number of hours you have to work each day but let's just assume you should probably spend at least 4-6 hours per day on "business" items.

I have seen many posts regarding hard money lending for a new project.  My situation is slightly different.  I own a three family home in Massachusetts, purchased with an FHA loan with one of the owners, my son, still...

She does have her couple items left outside her room and MIGHT be more inside the locked room, though I do not know for sure because I do not care to enter her room without advance notice to her. 

@Nancy B.The DMSH is less an expensing election and more a book conformity election.There's a concept involved in the DMSH and other areas of the capital expenditure code section and regs called "units of property".You don't examine each line item on a receipt, you examine "units of property".Buildings are called out under the units of property regs as having special treatment. 

Is there any advice that I should be aware of when making this leap forward.Thank you for this forum, many informative conversations & hospitable members.Eager to her your input !

I also see and hear those same "professionals" massively under-quote repair costs, forget to mention important due diligence items that if not checked can be a nightmare for the new buyer/operator, and make ridiculous claims that fly in the face of building codes/basic supply and demand factors/actual operating experience, and the like. 

@Farzan SetayeshNothing out of the ordinary, but I use the combination of the following consistently:- google photo for agent photo/video sharing- docusign for executing docs- acrobat X for all other doc edits- whatsapp for texts and phone calls- online money wiring or ACH for large items- paypal or venmo for smaller items- zelle or ACH for collecting rent- yelp or taskrabbit for misc repairs- lawnlove for landscaping or snow removal - skype for group meetings- Dropbox for online record storage- google voice for call forwarding - email for all tenant communications - autodraft for all utility & mortgage payments- online payments for all taxes & insurance - google earth to survey neighborhoods for out of town purchases - amazon or HD for online parts ordering The automation & streamlining of low value tasks enable me to preserve time for higher value activities.

You will learn and remember different items each time you read it.Think about where you want to live.....big city, small city, somewhere in between. 

Some lenders (smaller banks and credit unions) look at other items aside from work history and you could qualify for their portfolio loans.

Conversely, as a local, it's a little easier for you to tackle a lower-end, higher-CAP unit at first and really keep your eye on it.