Quote from @Claudia Stewart: I hope you have this agreement in writing.

Not a major rehab - flooring, paint, and some misc. work  - not a full blown renovation.PS: I wish BP could really have a search function because the current one sucks. 

Repairs like this are usually capital expenditures, you write if off in the year purchased and don't depreciate it over time.

@Timothy Fortin As Michael's superb content here and elsewhere emphasize, cost segregation services are tightly intertwined with broader tax functions typically provided by accountants.

If they are going to "help" you, everything should be put in writing and signed, just like a purchase contract.

Tenant is scamming you, but if the lawyer can write something that says you are not admitting any liability and this is a one time thing, perhaps. 

The city approved rental license inspector essentially just tested to make sure there was access to hot water, access to heat, no unsafe conditions like exposed electric wiring, CO/smoke detectors present/functional, fire extinguishers present/not expired, etc.

Even if not, the writing is on the wall for more regulations for everyone, if they approve these.https://www.coasttv.com/news/ocean-city-council-to-discuss-r...https://www.oceancitytoday.com/news/ocean_city/ocean-city-co...

Hi BP Community, I am writing this post because I feel like I have been stuck in expanding my current portfolio.

Doesn't Buildium have an accounting function though?