Safety and privacy come first.However, if the goal is to reach $9,000 a month in cash flow, a rent-by-the-room or co-living model can be a great strategy if it’s done in a separate property.

Get a 300% margin of safety. 

There's plenty of free deal analysis tools, and some advanced digital tools at a low cost.AI becomes more helpful in this area drafting multiple scenarios to maximize profit, minimize risk, and suggest the best risk/reward strategies.Taking it to the next level, AI takes local and macro market trends to expand on the financial modeling.For multifamily & commercial, there's a lot more that AI can do to model predictions and performance that investors would pay a premium for.

It wasn’t the kind of deal most investors would touch, but I saw the potential to turn it into a certified sober living home.Over about two years, we renovated the property from top to bottom with safety upgrades, new layouts, and durable finishes designed for shared living.

The single digit percentage optimization is not worth balancing on razors edge all the time.

Nevertheless, we do have several sources that provide a good inflation measure:-Adobe Digital Price Index - tracks inflation specifically in the digital economy by analyzing online transaction data from Adobe Analytics.

Here in Maine, it routinely gets deep into the negative temperatures in winter, so lack of power/heat/hot water can quickly become a health and safety issue, especially if there are small children/elderly or those with health issues in the building.

Digitize physical receipts for easy storage and use a consistent naming convention for easy sorting - 2024.03.25 Home Depot.- Maintain proper records, such as contracts, settlement statements, and promissory notes.Additionally, you can track income and expenses consistently using software or spreadsheets.As you scale, if bookkeeping isn't fun, consider hiring a bookkeeper for a couple hundred bucks per month.

Fellow landlords — how do you balance speed and safety when screening tenants?

I am sure something like this exsists in NYS and no - you don't want to make ANY modifications to a court tested lease.We have case law in Wisconsin where landlords had to pay 6 digit numbers because their lease included what Wi law defines as 10 deadly sins - and they are not super straight forward, so even attorneys' leases got caught.