Renting out house

Property managers typically take 10%. Beware of companies that will take 50% of the first month's rent, or have other incentives to churn/burn through tenants instead of trying to keep a single tenant there as long as possible.

Taxes are a bit more complicated. You can get write offs for depreciation, repairs, everything. Make sure you get bills from your PM company to substantiate the amounts you claim. It's probably best to get an accountant to do your taxes once a year, especially if you plan on getting multiple properties, to take full advantage. The first year I filed basic taxes and the next I had an accountant go through my stuff when I added my 2nd property. He found a few hundred worth of taxes I could get back that easily paid for his fee.

/r/MilitaryFinance Thread