Afford Anything | Make Smart Choices About Your Money, Time And Productivity

#106: How do you search for rental properties out-of-state? Should I offer a lease-option contract to my friends? How can I estimate repair and maintenance costs? And can you deep-dive into bookkeeping and taxes for rental real estate? I tackle these four questions in this episode of Ask Paula - real estate edition.   Saul from Salt Lake City asks: I'm converting the first floor of my home into a two-bedroom, one-bath apartment. My "hacked duplex" will soon be ready for my first tenant. Can you deep-dive into the taxes and accounting? How should I keep records of my expenses, and what should I file?   Terri asks: I'm analyzing real estate deals, but I'm getting stumped about how to estimate the repair, maintenance and capital expenditures. It seems like everyone has a different approach for calculating this. Should I estimate a percentage of the purchase price? A percentage of the rental income? A flat amount per unit? Or something else? How can I estimate costs accurately?   Kirsten from Madison,