Taxes - At tax time you will be filing a Schedule E, so simplify your bookkeeping by using categories that match well with that form.

Trying to determine a consistent, low cost lead generation strategy and sticking with it.I find myself dipping into using different lists (tax delinquent, code violations) and driving for dollars and also looking to do bandit signs.I need to pick a strategy and stick with it until I get my first deal or 2, then use some of the money to start a direct mail campaign which is a common them among the successful wholesellers on the BP podcasts.

In addition, in my opinion you'll get much more rent for the third unit than the rent increase.Spend some time figuring out what your property is zoned at (probably in tax database).

If incomes are $72,000 you're left with $38,200 to pay Taxes, insurance and all other miscellaneous expenses.

Have saved up about $100k+, could be more if I sell off some stock, and am looking at the Bronx as a market (maybe nearby NJ, but have heard it can be tough with property tax so high in NJ).

If you are conservative want to count on the income as pension you can cash out the balance and expect several K income with tax and insurance obligation.

@Kori Ford, going through the process of the tax auction should wipe those liens clean...

Attached is the real property tax bill, however the amount due is way more then the property assessment.

The rent rates are cautiously 1200/monthThe tenant will pay utilities and rental insurance I'm estimating is 100 a month.The taxes are 2k/yearly.I will be managing this property myself.Thank you!

The amount to bring current is an estimate until you get in writing how much is needed from the bank including legal costs and unpaid taxes.