Improvements What was the outcome?

If heat goes out in the winter we drop off several units, so they can be placed in different parts of the house - including every room with water like kitchen and bathrooms.We also have dehumidifiers, carpet blowers, shop vacs, puddle-sucker pumps, extra hoses, extra sump pumps with battery pack, squeegees, and portable AC units ready to deploy. 

We're improving units, management efficiencies and bringing rents to market value.

I position my inspections as 'planning for future repairs/improvements' which mitigates that whole 'he's here to get my security deposit' mindset.And, I would rather have the tenant with me than to have him later claim that something was broken during the inspection.  

Prepare financially by saving for down payments, improving your credit score, and setting aside emergency reserves.

Your aim starting out should be to get the best reviews as possible and use guest feedback to make improvements as you go.

They may argue they couldn't pay you because they just made a $10,000 improvement to the house. 

And sometimes, we are not materially improving what you could have done  yourself. 

My strategy would then be to lease at least two of the renovated units, increasing occupancy to 90%, which could improve the chances of securing favorable terms for refinancing.I haven't pitched it to the seller yet.

Keep detailed records of income, expenses, and improvements, and choose the right filing approach based on your comfort level with these rules.This post does not create a CPA-Client relationship.