The repairs should be for anything that was damaged "beyond ordinary wear-and-tear" of an ordinary occupant.

Wow Jim compared to yours my tenants are so un-fun and ordinary!

We did a lot of cosmetic work on the interiors, put up fences to separate the yards, and put in back yard patios.

Living in a tiny enclosed patio is NOT fun but definitely do able!

One for sale has a patio, mine on the second floor has a large balcony.One for sale has a garage, mine does have storage, not for the car,but has a parking spot with the roof inside the gated area.If I would like to bring to a condition like shown ontheir ad on Zillow, it would cost me about 40, 60kHow much more and less is the right amount to lower the price,compared to this one for sale now ?

What would be the advantage of investing there if your rental income is taxed like ordinary income?

Added outdoor patio and updated overgrown and old landscaping.Details: Purchased at $384k, appraised at $420k, estimated ARV $510k.

In other words, it is the amount of long-term gain attributable to depreciation that is not required to be treated as ordinary income pursuant to the Section 1250 recapture ruleHowever, if there were cost seg done, there might be some 1245 and 1250 depreciation recapture.

@Carson WrightLLC's are likely the most versatile entity structure if we are just talking about US Citizens / Partnerships / Corporations as members.You may have to think of other structures when you are considering taking on foreign individuals / exempt organizations.When it comes to ordinary income, speak to an accountant to see if an LLC taxed as an S-corporation makes sense.Best of luck

Tenants need to expect that.Second, I warn anyone going into an upstairs unit that their ordinary noise may seem excessive to the tenants downstairs.