3/5/2019Sherelle – thanks for the post / questions and outline Fyi – there are some conventional loan programs that allow a 3% down payment ….I would recommend using this program versus a fha loan program if possible …this is because with a FHA loan the monthly mortgage insurance remains with the loan permanently and with a conventional loan – you should be able to eliminate the mortgage insurance in the future ……Also – if you use a FHA loan for the first home - using a FHA again for next property might be an issue …..you allude to this in your question #2Regarding cash flow analysis ….other items to factor in : utilities / property homeowners insurance ( this will be a little higher when you live in home and should decrease a bit once you convert it to a rental policy / are there any deferred maintenance issues on the house ( roof / furnace / water heater / foundation are the bigger tickets items to watch Definitely get pre approved so you know for certain what you can afford and also so you can begin becoming more familiar with the numbers …we can assist with this if you want - contact us Thanks and I hope this helps Dave Skow 

(I live in SF, CA).I found a property I like, but the inspection report just came back with a lot of items.

It sounds like you've done some nice stuff to make the house better for you, and you've taken care of some maintenance items (sump pump, water heater).

Due diligence in checking references and seeing the type of work product each contractor can deliver may take more time at first, but once you have established relationships with the right people, you will save time and money.Budgeting BlundersOn television, property flippers take a quick tour through the property, throw out some numbers, and get to work.

They can be very picky on seemingly innocuous items in the house that youd need to fix.

Lukas, I have a few management companies that I've referred investors to in the past.

No loan, all cash.The expenses have been divided by categories (materials, utilities, paid contractors, insurance, other outside services, etc) and listed on the 1120S using TurboTax Business.My question is, how do I determine the Total Assets for Item F of Form 1120S?

It sounds like you're already on your way with interviewing a number of companies, but I compiled a list of Property Management companies in Cleveland that you may want to reference.

I say that because we have multiple CPAs in here and just posting about the him/her without referring to anyone is not helping anyone.

Other things we would like to consider are pet type and size (we accept pets), references, income etc..