My other piece of advice is to ask around and get a good accountant. My accountant helps me with any major decision year over year. Depreciation and write-offs are a big part of any small business. My accountant provides a list of items that I have on a depreciation schedule and lets me know when to replace them, or when it's a good time for something new. With the rentals there are major appliances, roofs, carpet and flooring, equipment like mowers, trailers etc... If something breaks that was being depreciated over five years like a 3 year old washing machine... When I purchase a new one I can write off the remaining depreciation from the old one that year and start the new one on the books. There is WAY more to a business than just getting paid to mow the grass. SAVE EVERY RECEIPT!!!!! If I use my personal truck for business use I get $.58/mile. If I drive 100 miles then I can earn $58 tax free. If you don't write it down then you get nothing!!!! Again good luck, but being the "owner" or "landlord" is way more than most would think!!!