If they tenant is $300 below market, that's costing you $3,600 a year.

A CPA who specializes in partnership issues can also likely talk through these issues with you.3) Depending on the size of the deal - Keep It Simple - the number of really complex agreements that come across my desk for a $500k property is crazy, and it ends up costing as much to do those tax returns as a comparable $5m deal

That's not the same as paying cash.According to a different post, your credit card debt costs you $600/month.

., known for its upscale appeal and strong demand for vacation homes.Properties in the Hamptons attract affluent buyers and renters, offering a high potential for appreciation and steady rental income.he property may have been undervalued due to its condition, presenting an opportunity to add value through targeted renovations.

Originally posted by @Eddie Torres:@Natalie Kolodij Standard or foreign LLCs in California still cost $800 annually unfortunately.  

Wish you the best.If I was you, first step is evaluating costs associated with doing MTR and comparing with potential rental income to see if it makes sense to do LTR or MTR.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

Also you should inquire with insurance agents about the cost to insure.

I would focus on finding an agent that knows what they are doing and will get it sold, not on the cost. 

@Holly Thorsen see above for potential challenges tapping your equity in the rental.You only need 5% down for a regular mortgage, 3% down for an FHA mortgage - so why don't you have the funds?