You just need the right setup.Here’s my 3-step formula I teach my coaching clients:-Target the right audience — check for hospitals, engineering firms, or universities nearby.

You need a bookkeeper and ideally a bookkeeper with tax oversight or a bookkeeper that works at a tax cpa firm.

Secure the notice, collect what's owed, and let them go on a positive note.The goal is to be firm on the necessary steps (like the 30-day notice) while being flexible and human about the small stuff. 

You're not interviewing someone for a W2 job at your firm, you're looking to start a nice mutually-beneficial working relationship.  

A few things that have worked well for us in similar turnarounds: Lease enforcement: Be firm and consistent with problem tenants.

We usually stick to a moderate policy for flexibility but require firm confirmation for large bookings.

As a civil engineer and owner of a firm that works on a wide range of projects across Texas, Nebraska, and Colorado, I have learned the value of thorough due diligence before breaking ground.If you are doing ground up construction, make sure you understand what you are getting into with the city or county where you plan to build.

Then the full $20,000 of the old property is taxed as depreciation recapture, and at the bad ordinary rates.Disclosure: this is the only part of this post where we don't have a firm consensus between CPAs.

We’ve handled CapEx projects for other multifamily firms before, but it’s exciting to finally step into ownership.

I hope the tax firm I connected you with works out.