Should I be equipped with a contract right then?

You also want the following:personal property and equipment inventorycopies of all service contractsany available blueprints or surveyscopies of any equipment warrantiescopies of all leases and a rent roll ( the two should match up)list of security deposits (should match leases)list of employees and salaries (contracts if any)have all the building systems inspectedpersonally walk every unit (verify they are occupied and overall condition)I would get a phase 1 environmental for a property that large, if sellers can provide one greatThese are after you have signed a purchase agreement.

Flooring over 5 years. etc.Here is a chart of such items.Type of PropertyGeneral Depreciation SystemComputers and their peripheral equipment5 yearsOffice machinery, such as: Typewriters Calculators Copiers5 yearsAutomobiles5 yearsLight trucks5 yearsAppliances, such as: Stoves Refrigerators5 yearsCarpets5 yearsFurniture used in rental property5 yearsOffice furniture and equipment, such as: Desks Files7 yearsAny property that does not have a class life and that has not been designated by law as being in any other class7 yearsRoads15 yearsShrubbery15 yearsFences15 yearsResidential rental property (buildings or structures) and structural components such as furnaces, waterpipes, venting, etc.27.5 yearsAdditions and improvements, such as a new roofThe same recovery period as that of the property to which the addition or improvement is made, determined as if the property were placed in service at the same time as the addition or improvement.Property taxes go on Schedule A.

Some houses do come equipped with these.

(My guess is the age of the equipment/lines, connections.)I have learned that if it's going to fail it will always be the most inconvenient time, under the most inclement weather conditions & you are usually away on vacation.Another reason I take the hit & switch out old furnaces, HW tanks & upgrade elect panels.good luck...

The accouterments of the land could be depreciated, even though the land could not.Or say you owned a surface parking lot, the asphalt could be depreciated though the land itself could not.Or at an apartment complex, the swimming pool, tennis courts, playground equipment, and other improvements could be depreciated though the land it self could not.Somebody I know owns land under a national chain hotel.

The sale consisted of a transferable contract for several vending locations, a recipe, and of course the vending equipment (including trailers, poppers, etc.).

It's best to get a layer of salt down first to keep the snow/ice from bonding with the pavement, then it's going to be up to the equipment and manpower at your disposal as well as the predicted snowfall totals, duration of event, mixes of snow and ice as well as how clear you need to keep the areas.

Your lender may also require a certain % of CapEx in reserves for the building plus each unit and then you may also need to think about FF&E (Furn, Fixtures & Equip)It may be less of a hassle to own several units in 1 complex and just pay the building fund and/or HOA fee and let the owners deal with the rest of the complex.

I was involved in a thread on here regarding hvac installation that thought that equipment cost +$500 for a complete hvac system install was fair and that hvac contractors rip people off.