meetups dang autocorrect

I have another PM that just passes the contractor invoices through to me without any additional costs, but, I do pay a higher PM management fee to begin with.Your question can only be answered by the PM you select to manage your properties.  

We inspect our units semi-annually - quarterly for our student rentals - anything damaged we address promptly and invoice the tenant if they are responsible.  

You can really get some good used stuff and a decent price.Sorry to ramble... numbers, numbers, do the dang numbers! 

@Chan K.if you use the cleaning the carpet line item, make sure the cleaning company invoice clearly states something like ....due to pet urine.otherwise a judge may just say it was a regular wear and tear cleaning that you chose to do and therefore its your cost to pay.

Get an invoice, a W-9, write the check, then issue a 1099 at the end of the year.

I tried to refi a flip I did recently and conventional financing said they would refi me 70% off the purchase price and rehab costs (rehab had to be an invoice from a contractor). 

Some look pretty dang good on the inside!

In your situation, I'd be making sure anything you buy doesn't directly affect your educational processes, but always remember, it's a business, and any business needs attention - even your Property manager will require a portion of your time (maybe 30-60 minutes per month) - answering emails regarding maintenance, querying invoices, etc!

Personally, I'd just charge him rent as per normal, then have him invoice for the work that he does, and keep all transactions clean and clear.