It’s true that freshly renovated properties should have lower maintenance costs in the first few years, but this doesn’t account for unexpected expenses.

Being that my business is brand new, do I project business profit when they ask for the annual business income? 

For instance in the real world.. i bought 12 brand new constructions back in the Katrina days .. this was in the top county in Mississippi they ranged 150k to 225k each..

This is a brand new construction. 

After transitioning all four residential tenants, we gutted each apartment and started fresh.

If the home is 100 yrs old, I'm assuming it's a definite gut which is going to require new plumbing, electrical, heating, cosmetics.I spent about $140K reno on my multi family in the heights on NY ave and there were massive problems with it but it was a gut to 3 units & adding 2 bathrooms, 3 brand new kitchens 4 bathroom reno in total, all new flooring, sheetrock , insulation, framing, doors, electrical, plumbing, paint, parts of roof etc.

Here is a fresh example, and it actually came from another tax firm (not mine) specializing in real estate.Let me briefly tell you why I crossed out their pitch:Strategy 1: depends on your 2025 projected net income vs your 2024 net income, among many other factorsStrategy 2: can backfire amidst the uncertainty of future tax rules regarding bonus depreciation, and also ignores alternativesStrategy 3: no rush to do it before December 31stIf you decide to continue reading, I will give you a high-level overview of the most common EOY tax strategies, obviously without an actual discussion of each one.

I buy Levolor brand blinds from Lowes, which cuts them to order while you wait. https://www.lowes.com/pd/LEVOLOR-Trim-Go-1-in-Cordless-White...

Im brand new here too.

Property details: 3 bed 2 bath both sides with attached garages, aluminum siding, copper plumbing, 1972 construction, separately metered, all electric water heater, range, dryer, public water and public sewer on a slab foundation in a great school district right next to brand new construction everywhere.