This helps catch any discrepancies early and keeps you informed about your properties' performance.Budgeting and Forecasting: Create a budget for each property, including expected income, expenses, and reserves for maintenance or vacancies.

I make sure to keep the same rental criteria for everyone including credit requirements, eviction history, and criminal records to name a few.

However, keep in mind that in some states including mine (PA) that you get hit with property transfer tax twice.

I'm finishing up an out of state project now.

Cousin A wants to keep the tenant and give them a break, while Cousin B wants them out on the street.7.

I intend to house hack for my first deal and slowly build up my portfolio as I keep working as a Project Engineer for a multifamily construction company in Austin.

If I were to undertake a project like this, I would likely want to refinance into a mortgage with a longer term.  

One thing to keep in the front of the pages, is to remember that the equity will have an APR, depending on the property you are aiming.

My apartment building is stabilized under the J-51 program which is an incentive for landlords to update older buildings as long as the keep the rents stabilized for a certain number of years.

It's really hard to say with the specifics you have but definitely keep yourself protected.