The rest of the expenses aren't terrible all things considered, but they could be better.Cook County just balanced the commercial property shortfall (empty downtown high-rises) on the backs of homeowners and multi-family by doubling their property taxes in many neighborhoods, which is what I consider to be the longer term risk of investing in this area.Again, not looking to acquire this one, just ran the numbers as practice and want to make sure I'm running the numbers right. 

Networking with people who already have experience can give you practical insights, tips, and even potential mentorship as you start your journey.

Second is the security deposit dispute with the tenant.From a practical standpoint, the cost of litigation will almost certainly exceed the cost of resolving either issue "favorably", so that should be the starting point for the analysis.In my own rentals, I rarely encounter damage beyond ordinary wear and tear, and even when there is some damage, unless it is fairly extreme, I generally do not withhold security deposit funds.

Requiring you to resend a detailed annual task spreadsheet every week while refusing to use your management or hospitality app creates unnecessary friction and defeats the purpose of systematizing operations, especially when you are self-managing and working full time.In practice, most owners set clear, standardized cleaning checklists once, use an app or shared document for communication and expect cleaners to confirm completion, not require weekly manual resends.

All three give good advice and some practical thinking. 

Seeing the city acknowledge that friction and take a practical step to reduce it is encouraging.

Here is my replied to PM:I would like to formally respond regarding the overpayment issue and outline a clear path to resolution.Based on widely accepted industry standards and professional property management practices (including feedback from experienced property owners and managers), this situation is understood to be a management error, not a vendor recovery issue.

I’m not suggesting someone jump from owning single-family homes to syndicating large apartment deals or raise outside capital....we've seen how that has played out for both GPs and LPs but there are far more practical middle-ground options.One such option is partnering with family or friends who share similar goals and, instead of each person buying a separate single-family home, pooling resources to acquire a stronger asset.

I was trying to use Baselane but they only allow tenants to pay their exact rent due, not more or less, which is not practical because sometimes my tenants are short by $100 but I would rather collect something than nothing.

We are relocating to the Tri Cities, WA in the spring/summer.