So if you have one unit advertised for rent on 6/1, another on 8/1, and another on 10/1, this will affect the depreciation  % on the tax return.Repair vs capex: capex would typically include all costs prior to the property being placed in service INCLUDING mortgage interest, insurance, property taxes, utilities, etc.

Out-of-state investors typically focus on larger cities like Louisville or Lexington, which dominate about 75% of discussions I have with OOS investors unless it's an STR market.

This will essentially vacate any right of tenancy the prior owner of the property may seek to engage. 

@Elizabeth Ross - make sure you are familiar with South Bend - houses for under 100k in South Bend can typically be in pretty rough neighborhoods, so be sure to do your due diligence. 

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

We do some cosmetic improvements to bring homes to our standard, typically carpet and paint, upgrade lighting etc.

Typically it's better to have the seller pay the buying agent because that amount if you paid it would still need to be capitalized and won't be expensed entirely in the first year.

Hey @Cameron Wells so the tiny homes on wheels are not real property, they are essentially RV's.What I would find out is what the property is worth bare.

What’s the typical LTR for this size property in the area?

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