Some of the areas I deal with are just outside the bourded and burnt out areas where the proeprties are still well cared for mostly.

Unfortunately, it is NOT an easy task to undertake when collecting past due amounts owed.It is especially tough when you are an Out-of-State Owner and your tenant defaults.Hiring a Professional Property Manager is ALWAYS an ideal solution so that you know that your property is managed by a professional real estate agent and that they are LOCAL.Our company for example is able to provide all services from leasing up, to property management; we are able to collect rents and if not, we send the required legal notices and ultimately file an eviction through our attorney with typically minimal cost to the owner.If anyone is interested in our services, please visit us at http://www.axiomresidential.com

If you have a single family home rented out for a year lease, ideally who is responsible for extermination for waterbugs the tenat or the landlord?

An investor I deal w/ tried the Trac route & was not impressed.

Is it possible to refi a sub-2 property and if so does putting it back on the market with seller finance a good ideal.

I deal with short sales and rehabs.

If lots, then keep good records for contributions, draws and equity splits.Revenue:Rental IncomeOther IncomeExpenses:HOA FeesMortgage InterestProperty InsuranceProperty TaxesRepairs and MaintenanceProfessional Fees (such as accountants and lawyers)(Anything else on Schedule E that you doOther:Interest IncomeFlipping Business should include:Assets:Cash AccountsMortgage Escrow Account (if appropriate)Projects in Process (one for each project, ideally)Tools and EquipmentDeposits and Prepaid ExpensesLiabilities:Accounts PayableMortgage Payable (one for each property)Other Loans PayablePayroll Tax Liabilities (as applicable)EquitySame as aboveRevenue:Property Sales RevenueCommissions Revenue (if applicable)Cost of Goods SoldProject ExpensesExpenses:Most of your job expenses will be recorded in Projects In Process as an accumulated asset and then moved to Project Expenses when you sell the project, so there's no real need to separate out expenses such as Materials, Subcontractors, Holding Costs, Utilities, etc.  

Ideally an attorney in Prince George's or Montgomery county.If this is not the correct place to post this, my apologies.Thanks!

I currently lose about $150/month on it and while that seems bad, my tenants have been paying down over $8000/year in principal on the unit and I'm able to depreciate the value of the unit and my paper losses against my other, better performing rental properties, so while it's not ideal, it's not a complete loser.

Ideally, I'd like to find a wholesaler with some good opportunities there, but I can buy off MLS if I need to.