show up later to comment on my questions, but the FB group is pretty stale.When you join, you get a private accountability coach.

If you do end up splitting profits and equity 50/50 then make sure you account for your management.

Ref:  Active Energy Account?

Also, this is why you pay for a good real estate and business focused account.... so you don't have to try to figure out something that is not your expertise or specialty. 

You are right, I should have accounted for that.

College students may appreciate a quiet study area or a place to visit with guests while their roommate studies in the apartment.Maybe there's a need for a coffee shop or other small business that needs very little room but also provides a service your tenants would be interested in?

& different parts of the asset can be depreciated on different schedules.To find out the useful lifespan of each component, you do a cost segregation study to analyze all of the parts.The raw land can't be depreciated so you start by giving that a value first.But other items can be depreciated on a quicker timeline.A roof, road, sidewalk, fencing, walls, gates, doors, latches, flooring, air conditioners, pavers, curbing, landscaping, etc.The IRS has a depreciation schedule for each type.Some parts are 5 yrs.

They were going to check with their accounting team to see what they "could do" since we were not at all happy with what Hilany sent us.

2) Owners NEVER take into account the time required to:- Evaluate & select materials- Order materials- Pick up materials- Coordinate access with tenant- Dispose of waste- Scan and process receipts2) According to Angie's List, labor cost can be $250 to $700https://www.angi.com/articles/how-much-does-microwave-instal... 

That means taking your time to study what you want to do (in this case what type of investing you are most interested in) and speak to those who have done it successfully.