Unless you are renting out something real high end, virtually all of your appliances should be as basic as they come.

The other idea of how bad it was is that someone high up in the department basically ended up dictating that it get opened (he saw all the bs I had already dealt with and bluntly 1) felt sorry for the bs I endured 2) probably was shocked how cumbersome the process for this one item was in my case).  

you should basically expect to be spending money and putting cash in for the first few years.

Staying organized like that definitely cuts down on the back-and-forth, and there’s nothing wrong with fewer calls when it comes to basic compliance — it means things are running smoothly.I’d only add one thought: even though bookkeeping questions may be reduced, it’s still a good idea to stay in touch with your CPA throughout the year.

Now of course this is very basic, and it doesn't actually work like this, but the reasoning behind it does actually make sense.

Similar concept, as a way to sell a property off instead of 1031 exchange and minimize tax obligation. 

I am near Pittsburgh and am interested in this concept.

As you’re studying the basics, you might also want to take a look at markets where multifamily still makes sense from a numbers standpoint.

While you’re doing that, run some basic numbers — what rents in the area look like, your projected construction costs, and what your mortgage and operating expenses might be — to see if the deal makes sense.Second, build your team early.

Hi @Choi Chingis, You’ve got the basic formula right.