It collects our rent, applies late fees, let’s tenants report maintenance issues, deposits our rent into our bank account the next day, screens  our tenants, markets our properties to something like 25 websites, has full accounting and reporting and a whole lot more.. 

If we skip a 1031 our accountant tells us we'll owe $180K in boot taxes.We are thinking about paying down our loan balance  prior to closing; the 1031 would allow us to borrow less money..... even so, looking at rental properties of various sizes, with 40% down on a 6.99 30 year, we're seeing a few COC's  in the 4-5% range.   

@Account Closed you haven't shared why you're looking to network.If you're hoping to network with agens & PMCs to have them feed you offmarket properties and other types of "deals", you're just one-of-a-million to them.We get inquires almost every day from OOS investors looking to invest in Detroit.For FREE these investors expect us to:- Drop everything else we're doing and focus on what they want- Spend hours on the phone with them TEACHING them how to invest- Spend hours finding deals for them- At this stage, many NEVER want to make an offer, just want to see better deals or they just disappear- Find lenders for them- and on and on and onSo, right or wrong, it's no wonder many in the industry ignore communications from investors.Recommend you network in person and be respectful of their time.

5) For electric & gas, get proof tenants have set up accounts in their name BEFORE giving them keys.

No need to open 20 bank accounts unless you want to.You’re definitely not overthinking it, this is exactly the stage where structure matters.

REI accounting requires someone who understands property management workflows, including AppFolio integrations, capex vs repairs, security deposits, owner distributions, and unit-level tracking.

Sorry, but it was a scam and you have lost all the money that you placed in the "reserve" account.

You also have to account for when payments are made out of the escrow account, such as property taxes and insurance.

I find that when people know that their partner has a face, they tend to be more accountable because any recourse event would feel more personal.

Working on checking off my first steps with my new account.