Rick, I think online permits are limited to the items below that I pulled off the website: Request Electrical & Plumbing permit for new or replacement electrical & plumbing for single family/duplex homes

So for the first item on the balance sheet you put the purchase price and then for the WIP item you add all purchase closing costs, reno/holding expenses, sale closing costs and then finally put the sale price as revenue?  

Hey everyone,I've used this site to look for data over the years and thought it was time to make an introductory post.I'm originally from the Lubbock area (New Home) and joined the military in 2014 and served 8.5 years in the US Navy.

So I have a FixedAssets account in the chart of accounts, but that's not really usable for tracking the per-item depreciation...there's no entry for when it was placed in use, no way to state depreciation lifetime, nothing that ties loan points to the loan so you notice when you refinance that you should take all the rest of that line item as depreciation immediately, etc.

Also, you'll eventually have cap ex (big items) to pay for and those costs are only going in one direction, up. 

@Adria T. the PM company has to communicate, get a tenant in quickly and be able to handle items that are unforeseen..

Hi Varun,I've been investing and owning in the DFW markets since 2012, and foundation work is a common maintenance item. 

Whether it's a refinance on a balloon payment coming due or as simple as an active duty military person wanting to house hack their first home.

Obviously it was my STR income supporting my DTI ratio and not my military income. 

I assume you keep the capital gains/depreciation itemized.