So we have a property that is categorized as a 2-4 unit/multi family residential.

We categorize the problems into two groups:Deal Killers (or Deep Discounts): These include complete system failures, such as needing a new well or septic system, which significantly impact the bottom line.Deal Modifiers (or Small Repairs): These are minor repairs like hydrojetting the drain field, installing a new riser, repairing baffles, or replacing pumps/tanks, which can leverage a lower offer.Step 3: Making the Final OfferWe make our final offer only after a full system evaluation with remedies.

If you are a Real Estate Professional this cap does not apply and hence why it is such a powerful status for tax planning.As @John Underwood said, Schedule C income categorized by "substantial services" such as turn down services, meals prepared, or special activities provided.

It's one service for banking and accounting, so you can categorize transactions as you make them, as opposed to having to log into a second system later once you have forgotten what the transaction was for.

Door count really isn't a (financial) metric, it's a way of categorizing your investment.

Assume there is a way to categorize it, track individual expenses, then have cash-flow reports for income/expense come tax season.Thanks!

ive always just used an excel spreadsheet with coding to categorize the expenses 

Hello, So I saw that most places categorize rentals as just str or long term, mtr is just another option investors came up with but in the eyes of the state it’s not recognized with its own rules and regulations.

Clear separation helps demonstrate that rental properties are business activities.Bookkeeping Accuracy: It’s easier to reconcile and categorize expenses when they’re all in one place, reducing the chance of missing deductible expenses.Professionalism: Separate accounts show a more professional approach to managing rental properties, which can be beneficial if you seek financing or partnerships.2.

Currently, the City generally categorizes short-term rentals, such as Airbnb or Vrbo, as hotel, motel, or bed and breakfast uses because the lease period is less than 30 days.