Updated about 5 years ago on . Most recent reply
First Rental Property Advice
What are best practices you recommend for someone starting with their first rental property? Should the tenant payments and mortgage payments be run through a separate bank account than my primary personal account? How much buffer would you keep in the account and when would you start taking profits out of the account if ever? These days would you be looking for tenants that work in certain fields to better the odds they remain employed? Other tips? Much appreciated.
Property is a 3/2 single family home in Georgia. Mortgage with escrows is $1150. Should rent for ~$1950.