@Daniel Dixon If you're in Haughville it's kind of hit and miss.

Make sure they've done flip deals themselves so they can help guide you through parts that you might miss.

You should have immediately sent an eviction notice when they missed their rent due date!

Your cash flow calculation is missing vacancy, maintenance costs, and capital expenses.

The chimney is barely holding on and the mortar is missing in some areas. 

But, again, maybe I am missing something here. 

With this being my first apartment deal I am more unsure about underwriting this type of deal and was hoping to get somebody who is more experience in multifamily to look at the proforma, T12 profit and loss, and rent roll to tell me if I'm missing something or to let me know of things that I should be looking out for.

What a lot of people think:Bonus depreciation is only for new properties or acquisitions.The truth:You can retroactively apply bonus depreciation to property placed in service after September 27, 2017, when the Tax Cuts and Jobs Act passed changing various rules.The IRS allows you to claim missed depreciation deductions by adjusting your current year's tax return, without needing to amend the previous year's returns.This is typically done through a change in accounting method using IRS Form 3115.

For example, in our lake house, we do a full wine box packed with snacks and a couple of drinks.

If not, any obvious alternate investment that I could do on the property to raise it's value, get more rent, or save money that I may be missing?