For example, if in the rental application you don't put xyz it's illegal and you can get suedif in the rental application you mention xyz it's illegal and you can get suedif you put clause xyz in the lease, it's illegal and you can get suedif you don't put xyz clause in the lease, it's illegal and you can get suedif you sign the lease wrong, the whole lease is void and you don't have a leaseif you don't provide xyz to the tenant, you can get suednot to mention how unfriendly my state is with respect to landlords, if a tenant is not paying rent, good luck evicting them. plenty of properties in my market for dirt cheap because it has deadbeat tenants and nobody wants to deal with them.yes in an ideal world I have 20 lawyers and accountants on speed dial who I can call any time, but lawyers and accountants are expensive and I have done the math, at best if you are really lucky you can barely cover your mortgage, I don't have money for a lawyer.

Would I be required to have a liscence in order to engage in this type of transactional lending?

If you commit to an out of state BRRRR, just know that you are likely committing to a long, expensive, stressful story with a lot of unknowns.

Verify if there are any outstanding violations or issues that need to be addressed.Financial Analysis: Review the property's financial records, including income statements, expense reports, tax assessments, and utility bills.

When you can sell a 43608 and buy 75% of a 43612 with 75% of the income but enjoy a higher class of residents with double the rental demand it's a solid strategy.I wouldn't say 43608 (or 43605 / 43609 and a few others) doesn't make money...it's that your portfolio of ten properties runs about a 40% chance of any property being rented for 8 months, requires an eviction and full rehab (the bane of realized income).

--> Automates a lot of your expense tracking --> Much cheaper than most softwares/fancy sheets --> Will probably save you a couple of thousand extra on your taxes if you follow all the recommendations. 

How are the expenses managed when it’s self directed?

Hi BPers,
Ive been diligently looking for an Insurance company that will insure STRs in Los Angeles CA and finally found one called Proper Insurance. Has anyone heard of them? and if so what are your thoughts?
I was...

I continue to work for living, but I have to be his full time caretaker , which requires a lot of energy but not only time. makiko Goto-Widerman

Hey Summer,Here's what I do:- I require 1 landlord reference for tenants but 2 if the tenant is traveling with a pet- All renters over 18 need to be screened.