Aim for multiple exits: live in one, rent the rest long term, and consider adding value with separate utilities or storage.

I’ve tried a few different options for leases over the years — from state association templates to PDF edits — but recently switched to managing mine through Baselane.What I like about it is that you can either:Generate a state-specific lease directly in the platform (it’s $10 per lease), orUpload your own lease and just use their built-in e-signature tool.That flexibility is nice because I already have a lease template I like, but I still get the convenience of secure e-signing, tenant record storage, and having everything tied to my rent collection system.If you’re just getting started and want something affordable without having to involve a lawyer every time, it’s a good middle ground — compliant, organized, and cheaper than most one-off legal form sites.

@Salvatore Amato The reason everyone is advising against C & D Neighborhoods is because the risks are so high.If you choose to pursue BRRRs in these types of Neighborhoods, be sure to fully understand these higher risks.RISKS:1) Break-ins & vandalism- In our local C & D Neighborhoods, we remove furnace & hot water tanks when a property is vacant, to avoid them being stolen.

How about self storage funds? 

Once the economy goes in the tank, these investors will start to sell their Bnbs.  

They’ll demand answers to ridiculous irrelevant questions like what’s the viscosity of the heating oil in the tank.

I find that when it starts to slip, it usually gets worse.Operation, Maintenance, Storage, Alterations to Premises: On a continuing basis, tenant agrees to: Keep premises in a clean, neat, and sanitary condition; no parking, storage, or accumulation of debris on lawn or yard.

Parking is more or less storage if you end up in a tough spot down the line (which rarely happens).

Have one Bank account and credit card for your rental activities.Get an accounting software to help you organize your income and expenses.save your receipts in an online storage platform such as dropbox or google drive.Do your books once a month or if you don't have much transactions, maybe once every 3 months.Best of luck!

Plumbing scope the pipes, pump the tank, leave a Snake on site.Out an alarm or shutoff system on the water.World view- depending on your world view.