But I think you should be pointing this out to the OP since he is suggesting this very thing in his methodology.

Otherwise, if you just setup a bookkeeping methodology (e.g. even something as simple as Excel) you don't need to open more bank accounts which means keeping track of more a/c numbers, ordering more checks potentially, etc. 

It is an art but it requires some science and a good methodology. 

This is the last section in my new business plan methodology.

Here is what that statement should have said: That said, other than perhaps Bob Bowling, nobody here is going to fault you for factoring it into the NOI calculation, and for most people's needs, capex is something you're going to want to factor into your NOI.Again, I apologize for my mistake.For the record, this thread is about how to calculate return metrics, not about accounting principals and methodology.

He explained very clearly the process and methodological!

Plus, Seth Williams has an amazing amount of information as well so in the same manner you wouldn't buy just one book on real estate investing from one author, you should probably investigate all the different angles and methodologies of different land investors.  

Personally I would be wary of using their service without understanding how thorough their checking actually is, and their methodology.

I want to make sure I am handling the taxes properly from the outset, as once I refinance later this year I want to make sure my calculation methodology for claiming expenses/depreciation/etc is consistent for as long as I hold the home. 

I currently reside in Torrance.I haven't visited the forums yet however, you will see me there as I am a serious and committed investor however, I am learning the flip basics and I am impressed with BP methodology and hope to be an asset to the BP community, quite soon.Cheers ~Rob KuchtaTorrance, CA