It's total income for the year minus ALL expenses and hold backs.Of course you want to make sure you make enough in occupied months to cover vacant months.  

Hello,I recently took out a 2nd mortgage on a rental property and I am unsure of how to record the set up the journal entry in my accounting.

How does IRMAA (Income-related monthly adjustment amount) affect Medicare when you're liquidating?

So about 1,100-1200 monthly expenses after groceries and other miscellaneous things I’d say.This is what I own:Bank: 35kCash: 7kInventory (business): 230kRobinhood brokerage: 27kFidelity Roth: 5.5kRoth 401k: 32kPersonal money market account: 15kBusiness money market account: 42kTotal liquid cash: $393,500Debt: -16,000 college loanHow should I go about investing this?

YES, CMHA may pay 100% or a % from the tenant based on their income.

Most newbie investors are looking over these areas right now because they are holding the market accountable.

This is what I own:Bank: 35kCash: 7kInventory (business): 230k Robinhood brokerage: 27kFidelity Roth: 5.5kRoth 401k: 32kPersonal money market account: 15kBusiness money market account: 42kTotal liquid cash: $393,500Debt: -16,000 college loanHow should I go about investing this?

Show one to your tax preparer and ask them what else you need.Your PMC should give you an Annual Statement in January of next year showing ALL income they collected on your behalf with a 1098.This should be all, with anything you paid separately, your tax preparer should need.

We asked them for a cosigner, so they sent us cosigner credit info, but no income info.

If rent is $1500 and the monthly fee is 8%, that equals $120/month income.