Managing Rental Property

[Maha Kira]

Hi Everyone,

I'm new to BP and trying to learn few things. I own Multi Family (4-plex) in Salisbury, NC. Currently, it's being managed by a Property Manager but I'm planning to take it over and try to give it to Traveling nurses (or) go through Alcove website to rent each bedroom separately. Any thoughts if am going in proper direction ? 

[Alecia Loveless]

@Maha Kira The Biggerpockets rental calculator can be a great asset when comparing between the LTR and the MTR. You can add in for extra categories for expenses such as the furnishings and there’s places to put the utilities when calculating the MTR. Unfortunately to use it more than 5 times you have to be a Pro member but to me it’s been worth it as I build my portfolio.

Personally I love my LTRs because I don’t have to worry about the utilities or any of the furnishings and generally speaking only have to place tenants once per unit every couple of years. I’m sure there’s other places with higher turnover but that has been my experience.