At the end of the year, if a property hasn't sold, I will do a journal entry to move the entire balance of that account to work in progress.To make that simpler, I will use classes to track the expenses to the properties.

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

Tax sale auctions can be very competitive and there is risk involved.Nationally it is said that about 95% of the property owners will redeem and you only get the interest.

How far away from Boston would you be willing to look?

I have it in my lease specifically that even though utilities are "included" there are caps on the monthly amount I will pay and the tenant will be billed for anything above that amount.

Ponder at your will.  

I was recently talking to a graduate of one of the military academies who will be moving to the Denver/Aurora area at the end of this year.

There is no downside to appealing your taxes and there is a very good chance you will win.

My wife will materially participate in the business and I'll provide the financial backing.I've talked to a couple local CPAs and done a fair bit of internet searching on legal entity setup for my situation, but haven't been able to get a straight answer.

Also, great point on joining some local Facebook groups, I will be sure to do that.