It's a very important distinction which your original post did not state, and that many new investors may not have realized.

You have a distinctly Russian sounding name.

It's a subtle distinction, but important I think.2.)

The distinction between a repair and a capital expense can be a gray area.

Unless, of course, the software makes that distinction as well :)

That being said I would clearly make a distinction between construction and planning/management.

One thing that wasn't yet mentioned is that your lease really MUST have a clause to deal with tenants overstaying beyond the termination of the lease; this is distinct from the automatic renewal of lease (typically done month-to-month).You want to have some per diem rent amount that they will be required to pay, and you want that per diem to be bigger than just one day's worth of their normal rent.

Was there a distinction bewteen cash funding and equity funding?

The determination of value by a seller serves two distinct purposes:1.

As a broker I have found that our staff really benefits from having their license as they are much more knowledgeable about the do's and don'ts particularly as it relates to Fair Housing.Just give some thought to whether you want to actually get your license as their are some distinct disadvantages of being licensed and also being an investor.