Hi BP folks..I've been noticing in Cleveland quite a few Triplexes for sale but are on public record as being a *Duplex*.  

So I have a FixedAssets account in the chart of accounts, but that's not really usable for tracking the per-item depreciation...there's no entry for when it was placed in use, no way to state depreciation lifetime, nothing that ties loan points to the loan so you notice when you refinance that you should take all the rest of that line item as depreciation immediately, etc.

I’ve filed probably 20 x 5/7 day pay or quit notices.

Some things I do to avoid bad situations: screen well, only have properties in good locations where people actually want to live (I find tenants behave better when they know they have a good thing going for them and that they are easily replaceable), set proper expectations, have a rock solid lease, go over it with new tenants to make sure everything is clear and agreed upon, and enforce the lease by issuing a formal notice to pay or quit every single time rent is late by even one day (and charge the late fee), or a formal notice to cure or quit every time there is a lease violation.

I feel reducing debt is a safe bet.Thanks,TroyWhich property will be easier to sell for a good price on short notice?

Also wonderful, but harder now after the SAFE act.Just noticed we're replying to an 8 year old Post.

Maybe you have some rotted decking - have you noticed any pooling water with heavy rain?

@Jeffrey Zhou What you are describing is that DBI receives an anonymous complaint and sends an inspector who subsequently issues you a Notice of Violation (NOV) requiring you to abate work done without the benefit of permits.So in that situation, if the work to legalize your unit is significant enough to create a habitability issue you may need to perform a just cause eviction (temporary only) that allows you to displace the renter in order to perform the capital improvement work. 

I have a question about a move out notice.

Virtually none of my units meet the current rules but all are legal because they were legal when windows were installed.   “(1) An enforcement agency, until January 1, 2030, that issues to an owner of an accessory dwelling unit described in subparagraph (A) or (B) below, a notice to correct a violation of any provision of any building standard pursuant to this part shall include in that notice a statement that the owner of the unit has a right to request a delay in enforcement pursuant to this subdivision:(A) The accessory dwelling unit was built before January 1, 2020.