For example: 975k for an old (100 years) place with 100k income and 27k property taxes and owner paying $8,200 in annual utilities plus insurance and maintenance costs. 

Annual insurance. ?????

When I was working for banks and did financial planning for customers, we used 3.1% as an assumption.

Juan is amazing because he doing way more than the filing....tax planning is imperative for real estate investors.

.• 3-year business plan goals achieved in under 12 months• Listed for sale at 2026 projected price of $1.875M• Accepted $1.825M cash offer from 1031 exchange buyer• Closed sale in Oct. 2023 to secure long-term capital gains• New Sales Record Set: $228K per unit sale price, the highest ever in Bridgeport CThttps://westfaironline.com/real-estate/bridgeport-mixed-use-property-breaks-record-for-price-per-unit-sale/ Lessons learned?

The exercise of tracking it regularly helps to keep it top of mind and it also allows me to see how my plans are working compared to my goals and if I need to make adjustments (I agree with @Chris Clothier that you've got a keep a long-term perspective because real estate investing, like life in general, is a marathon not a sprint).Great question, Allan!

I also plan on forming 2 new LLCs, 1 for new acquisitions and 1 for marketing my buy-and-hold rentals.

Are you planning on using 5k or 25K of the 30k space?

We are closing on our first rental property with plans to rent to college students.

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