by Robert C. Young
Proper accounting is the key to real estate success.
Add all rent received throughout the year to determine gross income. Include any money received for other property-related sources, such as coin-operated washers and dryers, and any expenses paid by a tenant into your total. Include the fair market value of any services or merchandise received in lieu of money. Do not include a security deposit if you plan to return it at the end of the lease.
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