With 5+ units, while they of course review your personal ability, they put more emphasis on the cash flow of the property itself and how its ability to perform is of high importance to them.Always keep in mind the following: 1) market cycle; 2) debt; 3) exit strategy (h/t Bill Ham).As you’re already seeing with deal flow, we’re towards the top of the market cycle with valuation.

Again, this is a long term play but cash flow does make me happy. 6 - I would read about State Bill 173 that is coming into effect in a couple days.

Is there someone that can answer your questions around billing and invoicing?

Explain that based on the previous owners sales price, you are forced to increase rents to cover the bills.

Dear Colleagues,I need help with a spreadsheet or some calculator for distributing utility bills among tenants in my 8 unit building This is an old victorian multifam and there is just no way to sub meter these units.Any help in this regard is greatly appreciated.

I don't have huge bills or family, so It is easier for me to start working on my financial life.

Are you using any billing services firms that you would recomend?

You will still get hit with a tax bill on profits though.Bottom line, while we all hate taxes and would much rather keep 100% of our profits, your option of waiting to save your W-2 income (which is also taxed of course) to get your next acquisition for hold as opposed to flipping a property with a partner to make money which will be taxed as well still leaves you with a net gain for future investments.

Thank you, Bill, for your reply. 

If I was asked, I would just tell them that I bought the house, they’ve had 9 months at the original rate, and raising the rent to meet the mortgage and bills.