Expenses incurred before the property is in service are considered capital expenditures and must be added to the property’s basis rather than deducted immediately.This means costs like rehab expenses, repairs, and other improvements made before the property is ready to rent are added to the property’s purchase price and can be depreciated over time once the property is in service.

Mortgage rates at 7% 2. 25% down3. 10% of current rents budgeted for capex, monthly repairs and maintenance and property management fees. 

I was running an sms campaign through an overseas assistant, but I've been researching AI sms marketing platforms that actually handle conversations from beginning to end, qualifying and disqualifying leads. 

Maybe seller financing.But let me ask this question, what happens if in the third month the furnace goes and needs $2000 worth of repairs?

I’m based out of state so would be looking for a company that could assist with day-to-day issues as well as securing tenants.

Quote from @Ricardo Polanco: Good evening everyone, I am evaluating the possibility of buying a multifamily property in Scranton, at this moment it has 2 apartments that only need cosmetic repairs and it has a big 2nd floor unit that needs a full repair.

You could start by reaching out to any local corporations that do assisted living in your area and see what they are looking for (location, space specs, etc). 

If you’re still using spreadsheets, it might be worth checking out—it’s like having a personal accounting assistant for your rental properties. 

I would definitely factor in some substantial capex/ maintenance and repair costs which could lower your returns.  

I've done a lot of research on this topic as both an investor and as one who assists other investors in exploring this strategy.