Unfortunately, those are treated as personal expenses and aren’t deductible.As for the repairs and improvements, fixing leaky pipes counts as a repair and can be fully expensed in the current year.

We have one and it gets used on occasion.

Deals seem to be pretty easy to find, fix and rent.

They got fundamentally sound real estate, with matching debt (10+ yr fixed rate) and budgets with the intent to hold nearly forever. 

I saw the list almost a year ago and we started working on fixing every issue we could that was on the list so that we would easily pass when the inspection day came.

I would vote bookshelf, since in long term rentals, typically, you want the least amount of things you will need to fix, as possible.If short term rental, than Murphey bed would be my vote, typically.

I let tenants know that rent goes up every year but I do not give them any fixed amount until a few months before the end of their lease.

The trustee, borrower or bank can ensure you get your hand slapped hard for approaching the circumstance as a work-out or foreclosure fix it guy without a license or being an attorney.Let's say that we can approach the owner and be in compliance, which you can.You will not purchase a note as an individual investor from a bank that has started foreclosure by making an offer like that.You get a request from the borrower for the bank to sell the note in lieu of payoff as demanded.

Investment Info:Single-family residence fix & flip investment.

I got a good deal on the property, but the list of fixes has gotten longggg and expensive.