This limit is reduced to one month's rent if a tenant is 62 years of age or older. 

Quote from @Vivan Bhallaan Bhalla: Hello all,I posted a while ago in another forum about the flip that i did recently.Address - 19145 zipcode (Philadelphia) We initially came up with the price of 380k and got a lot of showings but then the showings died completely since 3 weeks, we reduced the price by 10k to 369k right now but there has been no attraction.

By proactively planning how your investments are taxed, you can significantly reduce your overall tax burden and position yourself for greater financial flexibility.Equally important is establishing a strong asset protection plan.

Quote from @Mustafa Mahmoodzada: Hey everyone, One of my cousins recently listed his property for sale, but unfortunately, he didn’t receive any offers, even after reducing the price three times—by a total of $50K.

Getting the area dry quickly is important to reduce the chance of mold.

Turnkey properties allow you to add cash flow without the heavy rehab work, letting you scale faster and more hands-off.If you want to reduce risk and simplify, paying off existing units can improve cash flow and lower stress.

Having a trusted local connection, especially someone with extensive experience in construction, can significantly reduce risks and costs associated with renovation and maintenance.

I’m considering hiring someone to manage my maintenance crew: tracking tasks, keeping timelines on point, and reducing the interruptions I deal with daily.

You can look at increasing your deductible to reduce the premium that way ( I have all my properties at 5% deductible because I don't intend to open an insurance claim unless is something major). 

Here’s what to consider based on your situation as a first-time landlord:Tenant Backs Out After Signing a LeaseSince your tenant signed a 13-month lease and paid a deposit, the lease is legally enforceable unless it includes a cancellation or early termination clause.If no such clause exists, the tenant may still be liable for rent until you secure a new tenant.The agency can generally retain the deposit to cover unpaid rent or costs related to re-listing.Any resulting legal fees or rent loss may be deductible on your Schedule E when you file taxes, as part of rental-related expenses.Appealing Your Property Tax AssessmentIf your property taxes increased significantly, you can file an appeal with your local assessor.A successful appeal, supported by comparable property sales or valuation errors—can reduce your property tax bill, improving cash flow.While insurance premiums are not directly tied to tax assessments, a lower assessed value may affect premiums if your policy is based on replacement cost or uses assessed value as part of the underwriting model.Should You Put the Property in an LLC?