It is also cheaper and less complex than worrying about how many LLC's to have.

You want a Handyman 1 because most stuff is routine and it's cheaper.

You pay the rent or your gone.It's that simple.Even if a property is paid for many landlords stress they have to pay the bank and that gets tenants to pay up.Sometimes not filing eviction but putting the paper on the door will get them to pay.Professional tenants will check at the court house to see if you actually filed.Usually the judge will set up a payment plan to pay some each month on the back rent along with regular rent to catch up.That is usually cheaper for a landlord then them moving and having to recondition and lose rental income waiting for lease up again.If you start going soft that is when the knife goes in the back.When landlords get burned out form doing it for years they start to get mentally drained and let things start sliding.Doesn't matter if you have a 2 unit,20 unit,60 unit apartment or own 10 houses scattered about.If you start to let things slide then tenants talk especially if you are renting other properties to their friends or family.They will talk to each other and start testing the waters coming up with only have the rent or an excuse for no rent etc.

You could out bid them and still pick the properties up for way cheaper.

Ultimately, I think the builders in my area are simply building homes for less than the $85/sq ft that I've been quoted, are using cheaper financing, and are finding and developing lots for less.

You can use it to offset some of the gain when you sell a rental.All that said, profitable rentals actually produce taxable income, not losses.

We can all speculate as to how the conversation went, but, who doesn't look at their accountant and express that they would like to get a large tax refund or minimize their taxable liabilities?

Kiran,I have a lender we use here that lends 65% on ARV and is cheaper than most.

Can I assume the rental income I receive will be taxable in my new state of residence?

It may be possible that the money is classified some other way.Just because the money is new to you doesn't necessarily make it taxable income.btw - when income is realized depends on your accounting method.