Yes, I know to subtract the expenses from the gross rent, as my calculators have me do so, but my original question still remains - do reno/upgrade costs count against cash flow when calculated at the time of purchase but executed during the first 6 months of ownership?

(d) For base buffering encroachment lands acquired through a fee simple or less-than-fee simple acquisition under s. 288.980(2)(b).(2) An easement described in subsection (1) and the rights of the owner of the easement shall survive and be enforceable after the execution, delivery, and recording of a tax deed, a master’s deed, or a clerk’s certificate of title pursuant to foreclosure of a tax deed, tax certificate, or tax lien, to the same extent as though the land had been conveyed by voluntary deed.

Also some wholesalers don't understand the process well and don't lock in fully executed contracts.

For purchases please providefully-executed sales contract complete with all addendums.

I invest there ,I have a bounch of high end houses for executives and also middle income duplexes and triplexes.

There are two different issues at play - the titling and ownership of everything is more of a legal liability issue.It is possible to still have a tax partnership just with execution of a JV agreement, even if there is no formal LLC in place. 

So that's a long way of saying that while I think it SHOULD be a more frequently used strategy for first time homeowners, I don't see it become dramatically more executed strategy than it is right now.

Are you - or do you know  - an attorney in KY that could execute this for us simply and quickly? 

Imagine a car, you can place assets in the trunk passengers in the car and trustee chosen by the trustor is driving or "executing" the trust.

I believe that this is due to (finally) rising interest rates deflating asset values, which is highly correlated to the exponential increases in income for top earners like CEOs, executives, money managers, RE investors, and Private Equity Groups.To me, the only logical stance is "rational optimism" (I heard this term from Morgan Housel).