Whenever I load new leases, I reduce the rent by $1 and absorb the fee.

What my partner and I were thinking was, "We've done well in this industry before, and want to tackle a bigger project.

That is my biggest priority as well and will probably balloon in 5-10 years.

And I do currently own a long-term rental, so I’m familiar with tenant issues, maintenance, and the fundamentals of owning and operating investment property.

Once we had a tenant ask for security cameras and we offered to reimburse them if they installed it and left it when they moved out. 

Run your own numbers, don’t outsource your judgmentYour realtor may be great, but they aren’t the one making the mortgage payment.You only need a simple calculator like:The BiggerPockets calculatorA basic Excel sheetEven pen and paper works when you’re startingIf the numbers don’t work on paper, they won’t magically work in real life.5.

Start focusing on what niche you want to go and really learn all you can there.

(starting from 2-5 units and going up slowly)What are the most important concepts and terms to understand when getting started with multi-family property investments?

Clean, simple, and audit-proof.

I easily keep everything organized in excel without having to pay over $1000 per year for QuickBooks.I have one business bank account (for Non-IRA owned properties) but everything is categorized per property in Excel.My CPA says every year I am one of his most organized clients.