We want to make sure that come tax time, we are all taken care of, but writing and sending a check every 2 weeks also does not seem efficient...We have thought about using an app like Venmo to send money, but wonder if that leaves enough of a paper trail come tax time?

We want to make sure that come tax time, we are all taken care of, but writing and sending a check every 2 weeks also does not seem efficient...We have thought about using an app like Venmo to send money, but wonder if that leaves enough of a paper trail come tax time?

They might not be as efficient as a 'local' operator, but they have financial staying power.

Overall the expenses are $4,400/unit based on the TTM figures, which is a bit on the high side for what I'd consider an efficiently operated property.

Do you think rental properties is the most efficient way for properties that provide the largest cash flow?

I'm also a license real estate agent going on three years now, and am continually looking for new strategies to systematize and gain efficiency so I can keep the business growing.

Is there a room you could rent out or a space in your backyard you could build an efficiency in?

Richards, do you hate the existing floors or are you just hoping to improve air quality and energy efficiency?  

Everything's metered separately, tankless water heaters, efficient everything, looks great, etc.

This is measure is called Net Operating Income.This is all Income minus All Expenses.So in my analysis it looks something like this:Annual Rent (Monthly rent * 12) – (Taxes, Insurance, Maintenance, Management, and Vacancy Loss) Taxes and Insurance are often firm annual figures.Maintenance, Management are often stated as a percent of Annual rent (In most cases I use 10% and 8% respectively).Vacancy Loss is how to take vacancy into account in NOI.I often will use 5% of annual rent for Vacancy Loss.However NOI is only half the story.Second, one wants to understand how efficiently we are generating this cash flow compared to other investments.