If you are tracking depreciation for purposes of repairs and maintenance (like anticipated timing of a new roof for example), you could probably get away with using excel and then just manually booking a journal entry.

Roof was flashed and repaired in May.

Consistency and targeting the right audience were critical aspects I initially overlooked.

He secured all four doors with heavy deadbolt storm doors and fixed a hole in the roof. 

I'm the mindset that it's better to own fewer high quality properties than lots of inexpensive ones (e.g. all those roofs, HVAC etc to replace in the future). 

I currently work in construction and have some experience in all aspects of building.

This allows you to deduct the full cost in the year it was placed in service.Fences are not eligible for the Section 179 deduction as they are considered land improvements.Given this information, you have two main options: 1) Take advantage of bonus depreciation (if eligible) and deduct the full $4,200 in the year the fence was installed.2) Depreciate the fence over 15 years using the appropriate depreciation method (likely GDS).To ensure you're making the best choice for your specific situation, I recommend consulting with a tax professional who can review all aspects of your rental property finances and advise you on the most beneficial approach.Please feel free to reach out if I can be of any help.Best,Jackson

Summary of Key Differences: Aspect DSCR Cap Rate Purpose Measures debt service ability Measures investment return Formula NOI / Debt Service NOI / Purchase Price Focus Cash flow vs. loan payments Income vs. property value Perspective Lender’s viewpoint (loan approval) Investor’s viewpoint (ROI evaluation) Role of Financing Highly dependent on loan terms Independent of financing Use Primarily for loan qualification Property valuation and comparison Conclusion: DSCR is critical when securing financing because it shows how well the property can cover its debt payments.

Why would you give them free rent with they still have full access and use to the stove, refrigerator, walls, closets, flooring, roof, garage, lawn, etc.?

You don't need an inspection to know the age of a roof.