Traditional thinking was the formula 70% of ARV minus rehab/repair numbers.I like to use actual numbers and not basic formulas or rules of thumb as they can be off.

For context, I’m Lucas with Howzer Property Management in MA.Appliances & unit itemsIf you’re using Excel, the biggest improvement is having one master sheet per property, not a bunch of random tabs.Each unit gets basic info:Appliance typeBrand / model / serialInstall dateWarranty infoLast service dateMost people track invoices, not assets.

Both are basically just the same issues you'd have with any other property.

From there, you can start building your basics: learning how to analyze deals, picking a market that fits your goals, and surrounding yourself with people who’ve done it before.

You’re able to learn the basics of a real estate investment with lower risk and build equity at the same time.

And since I put 250k in on the remodel and it's basically all new on the inside I think for the first few years I should be come in below my maintenance and capex expenses, but on a longer term I could see it being accurate or low.

Basically, they refused to provide their closing costs (and rates).

If you’re willing to share, it would be helpful to hear:One recent performing note deal (high level only: property type, state, basic numbers).The biggest risk you watch for with performing notes that newer investors often overlook.The goal of this thread is to learn from others’ experience—what’s actually working, what’s not, and how investors are thinking about risk/return with performing notes right now.

We can do basic maintenance... door knobs, paint, ceiling fans, re-wiring an outlet, etc.  

First off, I'm not opposed to consulting with an accountant and making sure this is all done the right way, but for now I just want to get a basic organizational structure going.