Managing rental properties yourself

[Cat R.]

To those that manage your own rental properties both fill or part-time, how much do you pay yourself? I'm new to this world and am slowly getting my feet wet. Also, what methods do you use to streamline your business? To manage tenants, properties, credit checks, etc? Any and all advice is welcomed and encouraged. Thank you.

[Account Closed]

I'm confused by the concept of paying yourself.  The profits are yours, right?  As are the deductions, etc.

If your properties are in CA, get this book.  It was my bible:

http://store.nolo.com/products/the-california-land...

Also, you might want to look into their other books.  I bought the landlord tax deduction guide at one point to learn those laws to help my daughter, and it's a great book.  They have separate books regarding choosing and evicting tenants, and managing, too.  But, I'd start with the CA Landlord book, and see if you think you need to read more afterwards.