Historical expenses will also let you know if there is a significant recurring utility or maintenance bill that that the owner is responsible for: James' video does not mention if the units are individually metered for electricity.

•Electrical panel and roof in need of maintenance.

My electricity, water, phone every is about to get shut off and my car repossessed.

DIY Cost Seg had nice functionality for adding any improvements you made to the property by category (HVAC, Electrical, etc.).

After 30 years as an electric motor technician, I’ve transitioned into real estate to achieve financial freedom and spend more quality time with my spouse.

Access to utilities like water, electric, sewer, and internet plays a HUGE role in which strategy to choose.

I personally like to stay in mine for 3 days atleast while I setup to know my properties more intimately and to work out the bugs which would be problems for guests.

As far as expenses for things such as electricity and RE taxes (paid in 2023), those will generally be deductible on Sch E.

Even though they are renovated, they have to be pretty old in Richardson, maybe 70s vintage, so I would want to know who rehabbed them and what did they actually do....like new electrical and plumbing...any foundation work?

I have an electrical background my father is licensed so not afraid of upgrading services and fixtures that other investors don't want to touch.