The cost basis includes:Purchase Price: The amount you paid for the property.Renovation Costs: Add the cost of improvements and remodels that significantly enhance the property's value.Closing Costs: Certain closing costs related to acquiring the property (like title fees) can be added to the basis.You will then allocate the total cost basis between the land (which isn't depreciable) and the building (which is depreciable over 27.5 years for residential properties).If you're unsure about how to allocate between land and building, you can use the allocation percentage from your property tax records or get an appraisal.This post does not create a CPA-Client relationship.

That's huge.My 2 cents is to ensure you keep up with all business-related and property-related financials (aka bookkeeping).Bookkeeping for REI companies (especially rental property companies) is super nuanced.

When we did it, new management had old manager transfer all funds held in relation to our account to the new management, including existing security deposits. 

It’s relatively simple and, while it does cost money, it’s one of the more cost-effective options.

The sales position is purely commission-based and 1099-related so I have to pay for all of my expenses that otherwise a W2 employee would get which also unfortunately STINKS. 

•Vacancy rates here are relatively low, as Bali is a top tourist destination.

While it’s relatively simple and can help you find deals, it’s also time-consuming.

Ok "Lisa" you've posted all of 4 times and each relate to this course you are promoting.

Hi all, I am familiarizing myself with at the Lincoln market and wondering whether any local investors can shed some perspective on overall property values relative to rents in the area.

@Alan Asriants there is no added time or added risk when buying properties that one triple net leases.All the drawbacks you mentioned are eliminated with NNN leasing owned properties.If the interest rate on the loan is low enough in relation to income received, there is no financial point in eliminating leverage, mortgage.