My unit was updated and had a open concept layout.

Depending on the layout sometimes adding livable space above a garage can be an option.

My current goal (which is always subject to change) is to buy and hold properties because the idea of the long term passive income and the process of it all seems intuitive.

I'm looking for some general guidance as to where I should start.I'm happy to layout what I've thought about so far, but i'd rather not steer the discussion in a specific direction.Again, any feedback is immensely appreciated as always!!

Removing the hanging cabinets in the kitchen does make a huge difference in the visual layout of the space opening it right up.

I love it.For collecting rent, I use Intuit Payment Network.

There is a local 8 unit (two separate buildings, I am not sure of the exact layout yet) 7 are 1 bed 1 bath and the last is a 2 bed 1 bath unit.

@Jean Bolger, what I'm afraid of is that what you describe might NOT be an isolated case--it just seems to me (intuitively, without any real proof) that the disputes among board members in a small complex would so much more personal than in a larger complex.I don't know which would be worse--dealing with bad tenants, or dealing with stubborn HOA members, ha ha!

As for depreciation, you still layout the initial costs and then you write it off over a short schedule to gain a tax advantage.

The portion there of you taking all the profits or losses is a bit counter intuitive to splitting things 50/50.