Quote from @Brendan Winans: I Made My Largest Single Profit to Date: $250K in 12 Months on a FourplexEarlier this year, I closed out a value-add fourplex that generated a $250K profit in just over 12 months.

If you’re switching PMs, confirm who the county recognizes as your official representative before the court date.

Of course, houses like these are prime spots for human and drug trafficking, prostitution, sex parties, and so on. 

Considering we live in Missouri, I decided to run a free search on CaseNet, a system in Missouri that lets you search for legal records - low and behold, I found our mew tenant and he had an EXTENSIVE criminal history dating back a couple of decades.

., schedule showings, & handle applications.Tenant Screening: Perform background checks & qualify select tenants based on predefined criteria.Tenant Move-In: Finalize leasing agreements, confirm move-in dates, conduct inspections, & collect rent & deposits.Rent Collection: Handle rent payments, late notices, & enforce late fees.Evictions: File paperwork, represent the owner in court, & coordinate with law enforcement.Legal: Advise on disputes, refer to attorneys, & ensure compliance with relevant legislation.Inspections: Conduct regular property inspections & send owners reports.Financial Management: Make payments (mortgage, HOA, etc.), maintain records, provide tax reports, & offer cash-flow statements.Maintenance & Repairs: Oversee maintenance, hire contractors, & monitor repairs & larger projects.Tenant Move-Out: Inspect, report on damages, return deposits, clean the unit, & re-list the property.** PM's - let me know if I missed anything!

You’re not alone—California’s prices make it tough to get started locally, but $30K is actually a solid foundation to begin investing if you think creatively.

Turnkeys can actually be a solid option, especially if you’re working with the right team and market.

I’ve got 31 units and have a couple of Excel spreadsheets and last year hired a bookkeeper who uses QBOnline and has been a game changer as far as comprehensive up to date financial information.

The ability to budget and compare actual to budget.

As a GC and flipper, I always include my scope of work, rehab timeline, and budget so the lender sees how the numbers actually come to life.