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i own s few multi family properties, and am currently buying a 3 family now.
treat it as a business.. your tenants are your business customers.
screen them, be fair to them, know your housing laws.
upkeep. hire good maintenance people. repairs, supplies, motgage interest, are tax deductable.
except if u live on the property. then u cant deduct for yourself.
appreciation. well maintained properties almost always increase in value creating equity.
rents. rents should always be market rate. market rate usually covers your basic mortgage, insurance, taxes and water/sewer.
always.. always.. always collect a security deposit.
last months rent usually weeds out the scum (but not always)
i could go on and on
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