Things such as hot water tanks, carpets had to be replaced in a few years, so I wound up depreciation some items more than once.I sold a rental last year for $430K that originally cost me $70K as an investment property.

Perhaps this will provide some food for thought when discussing your next asset protection strategy with your real estate attorney.

Answers my main question that people do have many, many separate checking accounts for each property - keeps line items separate for bookkeeping purposes.

I am more concerned about roof damage since that is usually the biggest ticket item. 

There are items in every home which will require constant maintenance, meaning yearly or every other year such as the furnace-A/C, toilets, faucets, main drains, and gutters. 

And I turned on the utilities in my name and the condemned notices were removed.Another item in my leases is that they must notify me if the property is to be vacant for more than 7 days or it will be considered abandoned. 

While searching we are lining up all the other items needed to have the STR up and running day 1. 

That is why you see impulse purchase items at the cash register or where the old catch phrase "do you want fries with that?"

*Two-wire ungrounded systems with two-prong receptacle acceptable *Two-wire ungrounded system with three-prong receptacle unacceptable unless supplied through GFCIBased on that, the 3-prong outlets you put in wouldn't pass if they test them.If you're interested, here's a list of the top 10 most commonly failed inspection items (in order from highest to lowest failure rate) from one county Housing Authority:1.

Show the bank and the appraiser your itemized list of improvements with costs to help show the new value.