And after the experience, my daughter's choice turned out to be very costly!

I've run across some wholesale companies like Networth Realty that seem like they could be a good way to practice finding deals while earning income.

I'm writing to ask about best practices or common approaches to accounting for property taxes.Here the tax bill comes out in November of each year.

We give them the choice of a walk through once the roommate moves out and we charge them $50 for doing it out of the normal schedule.

It's a tough choice.

I've found that people who have little or no property management experience not only don't understand the liabilities and best practices that are associated with PM, but they also are (sometimes) tough clients to deal with because they don't understand maintenance protocols, timelines and expenses.

Is this common practice?

The same goes for a CPA but they are not limited in which states they can practice in the same way attorneys are so you have leeway if you cant find a good one locally.

And, as you continue to buy more properties and form more entities to segregate your assets, you may decide to form a parent holding company to reduce tax preparation fees, ease administration, and add an additional layer of asset protection between your properties and you personally (shown as HoldCo, LLC in the sample organizational chart).As for which form of entity to use, it can be state specific, so you should seek advice from an attorney practicing in your state.

I own four cabins in the area, I love it and definitely the best financial choice I've made!