Operating expenses are routine and necessary costs to keep the property in its ordinary operating condition, and they are typically deductible in the year they are incurred.You also mentioned the benefits of classifying something as an operating expense versus a capital expenditure.

Investment Info:

Single-family residence wholesale investment.

Purchase price: $100,000

Sale price: $112,000

One more wholesale deal in the books. This one was special because it was completed with a...

You can buy something like a cheap Arlo camera system at Costco and pay for the Internet connection in one of your units.You could ask law enforcement to do routine drive-bys or safety checks.

I instead use my superior intellect to creatively manage my business and the people who serve me in it while I kick back and spend loads of time with my family, posting amazing shots of our living our best lives every day on Instagram and Facebook.I am universally loved in my community and my minions and tenants routinely tell me I'm a angel sent by heaven to help them in their time of need.

By the time you will be able to get into a stable routine, you kids will begin to outgrow you.That last one is what weighs most in my decision making.

Here's the message from RentRedi: "During a routine review, our payment processor came across a transaction that they must do additional verification on.There was a transaction (#20) under cardholder name XXXXXXX  (amount: XXXXXXX).As this cardholder name doesn't match the tenant name (XXXXXXXXXXXX), further information is required about the cardholder:- Lease agreement - Cardholder name:- Billing address:- Cardholder phone number:- How the cardholder is associated with the tenant:Once this information is provided, I will relay this to the payment processor for review." 

Getting caught up in routines that don't yield results is easy, so this is a great reminder.I also love the idea of connecting with someone locally and getting hands-on with their projects.

There are 3 safe harbors available to you-De Minimis Safe Harbor ElectionSafe Harbor Election for Small Taxpayers (sounds a bit condescending)Safe Harbor for Routine MaintenanceCheck these out...Frankly given the amount, and what you are doing (low materiality to the plumbing system unit of property), I would expense it.

The only thing I can think of that may be harder to deal with if I am not local is routine maintenance issues, but I was thinking I can just ask around for some handy man referrals to have at the ready in case those smaller issues arise, while I would instruct our future tenants to contact our service provider for any emergency issues. 

You can actually find 2 bedroom condos below $100k now fairly routinely.