@Mason Vitalis I agree that cap rates aren't applicable for house hacks, but I'd suggest going forward you mention that you're viewing it through a HH lens.

For example, I mention that every adult must pay a $30 application fee, pass my credit/criminal background, make a combined income of 3x the rent, and whether or not the property accepts pets.

What bookkeeping software are you using?

It's free and simple to use and I advertise and collect rental applications from the same platform.

I’m particularly interested in how you handle the financial side of things – from invoicing and payments to expense tracking and tax reporting.If you’re open to a brief chat, I’d love to learn more about:Your biggest challenges in getting paid and managing cash flowHow you’re currently tracking expenses and commissions (manual spreadsheets, PMS software, etc.)Whether you’re using any financial tools or platforms to streamline invoicing or reportingI’m compiling insights to better understand the needs and pain points of cohosts and would really value your input.

.​📋 Tools & ResourcesProject Management: Utilize software like Trello or Asana to track progress and tasks.Checklists: Develop standardized checklists for each phase to ensure consistency across projects.Budget Tracking: Use spreadsheets or financial software to monitor expenses and stay within budget.​

Hi @Noah Bacon, trying to decide what PM software is best for us to track our investments.

Paying close attention to detail is crucial when evaluating applicants.

I’m a software engineer who’s just recently wrapped up my first 4-unit ground-up construction deal.

These costs are typically treated as startup expenses or capitalized into the property’s basis, and become deductible once the property is officially available for rent in 2025.Your LLC setup, software subscriptions, and CPA consults qualify as startup expenses.