The second one is for Operating Expenses where  payments are deposited  (rents, late fees, lost key charges, tenant-caused-damage charges, laundry machine income, event room fee), and used to pay  regular monthly expenses.

I also like to use the lease option model more than having regular rentals.

Thanks again — I’m just a regular guy trying to be conservative, learn fast, and build something solid for my community.

Text/call regularly depending on the nature of the work: roughly, take the full timeline, divide by 20, and start following up that often.

California taxes can go up to 13.3%, so you want someone who understands how rental income, depreciation, retirement contributions, and long-term planning all work together.I’d also ask whether they regularly coordinate with CPAs, because tax strategy is a big part of protecting what you build here.

Hi BiggerPockets community 👋My name is Emiliano Perez, an Associate Broker with Schunk Realty Group and an active buy-and-hold real estate investor based in New York.I work with buyers and sellers of residential and commercial properties, and I regularly help real estate investors and first-time buyers with single-family, multi-family, and mixed-use properties.

You might as well use a regular fix and flip loan and save on the fees and rate  Yeah, it was a really bad set up that they are not fully up front and transparent about.

You need not have regular, continuous, and substantial involvement with the property.

Do I need to get landlord insurance or do I just get regular homeowners insurance and have the renter pay for renters insurance or is there something else I am not thinking of? 

We had 20+ vendors we used regularly.