Losing income during eviction is clearly the biggest obstacle to returns in this business for me.

Not only is QBO popular among CPAs, it has a user-friendly interface, and robust features make it a great option for those looking to scale up and stay organized with multiple properties or LLCs.While there are other options available, such as Stessa, QBO's integration with property management software and its ease of use for generating reports and tracking income and expenses make it a preferred choice for many.

The rent from the single-family house and the rented apartment in the multiunit house totals around $1,950, and you'll be living in the other apartment (but let's assume it could also be rented for $900), making the total potential rental income $2,850.

Recognise the opportunity for rental income and property appreciation.Speak with a Mortgage specialist: Contact a mortgage specialist to discuss financing alternatives for both scenarios.

Consider that if they move out you will have costs associated with rehabbing the unit, and have no rental income for 1-2 months. 1-2 months of lost income would be $2600 (at $1300), you only stand to gain $2400 a year by raising their rent by $200 a month. 

Get their guarantee they will expedite all of your legal entity and banking issues.  

The use of the accelerated depreciation strategy helps real estate investors to reduce the tax liability immediately which therefore increases their bottom line due to the offsetting of income.

What’s the median income for current tenants?

For example, tell them how you can provide them a stable income over the years without having to deal with tenants, toilets, or trash.

I know I will be taxed higher on income and it will be harder for me to find financing.