My clients who bought prior to 2022 are doing very well right now as rental rates are up and they've locked their low rates in till 2027 at least.

The tenants have been here 9 years prior to me purchasing, so who knows how long its been going on. 

And this is just as I enter the REI space, so no prev experience managing these types of things but lots of experience managing people and businesses prior. 

Did they have to demo prior to commencing work?

I've seen some pretty healthy asking prices for land where all entitlements were obtained & approved.Also, I do understand that there's a cost paid to the geotech, architect & city prior to approvals.But...

Last Yr on my taxes each property was listed on the return, however, this Yr I entered the business name, do I put all the rent received as income under the business name and list all expenses from each property or do I list each property as rental properties like I did last year prior to forming an LLC?

Was your tenant offered a preliminary inspection during the two weeks prior move-out as required by law?

Unlike Airbnb, these types of guests need exact information prior to approval

If a tenant has a prior balance from the old owner- I use that to negotiate my new lease.

But if you plan to scale up, aren't you talking about $1mm to $2mm upfront cash to support your deals, prior to lenders?