Inspection Report

[Ron Steele]

Hello,

I'm doing an inspection of a multi family property, and I'm looking for a template or something to follow.

Thanks

[Duncan Taylor]

@Ron Steele, a good detailed report from a professional inspector will help you negotiate concessions for any surprises found during the inspection.

It will also help you substantiate a claim of repair items you can write off now and those you must capitalize. This assumes it is already in service and has tenants.

Another area where it can help you is if you want to separate assets for depreciation purposes. If you want to do that, make sure the inspector knows it going in. They can collect all of the data needed to do this. They will (should) even be able to correctly identify non-load bearing walls that can be treated like personal property instead of part of the structure if certain conditions are met.

The net-net is they are worth FAR more than you will pay for their services.

I have always used a professional inspector for multifamily purchases and will use one again for the one I opened escrow on yesterday.