Also, having a good Property Manager to manage your properties is key to having a successful rental portfolio.

I am 19 years old and I’m about to buy my first rental.

Effective Gross Income is the total potential rental income minus vacancy and credit loss.

3 years ago when I first started my REi journey I thought I could do everything myself I’m big on DIY… (I did just that, I launched my first rental just like most of yall *BP,Youtube,books, I literally didn’t know what a mastermind even was , few months into my journey I started to feel stuck and couldn’t get the answers I needed. ran into a few of Jesse’s YouTube interviews and I was hooked on MTR (Travel nurses was topic during this time) I tried doing it myself and failed countless times and I wasn’t sure If I was even heading towards the right direction. 

My wife and I are going to turn our primary residence into a rental. 

Alimony alone is 3X rent? All

I file jointly and we are able to put enough of our income into a retirement plan that we can be below 89,000 in income (including rental income).

Do I open the LLC in the state I currently live, or the state I own the rental property in? 

But the value eventually recovered and zoomed upward, and the rental income is amazing.Good luck to you / make it happen!

My intent is to convert my primary into a long term rental.