Essentially, instead of being able to write it off immediately, it lowers the purchase price for tax purposes, meaning depreciation will be calculated on a slightly lower amount over time.

How long are you going to own it and when will you try to sell it?

A lot of lenders used to apply 35% for expenses, but in the last several years, the numbers for supplies, labor, utilities, taxes, etc… have increased significantly.Also take into account the age, occupancy and how has the property been maintained, this will affect the expenses too

Quote from @Josh Deschene: Hello All,This is my first post and I will try to summarize as clearly as possible.

The cleanout is about 10-15 feet from the curb, but they had to snake 70 feet, suggesting a potential city sewer issue.The plumber mentioned that if I report this to the city, they will likely request a secondary cleanout closer to the curb, which I would have to install at my expense (a costly job).

Best of luck, you will be crushing it before you know it!

Hey Nicholas, Building your team will be crucial.

I have a mortgage with NBC and will be using them more this year.If you'd like, I'd be happy to connect you with my buddy Mark who can give you quotes on DSCR loans, and connect you with Jody Shaw @ NBC who can help drum you up some quotes and tactics on getting a loan with them. 

REI) and it will populate in-person and online events.

Your plan works as long as cash flow remains strong and refinancing remains accessible—but are you confident that will always be the case?