Items like:What is the average income of the area and can they afford more rent?

(b) Taxpayer has not adopted a method of accounting for the item of property.

I wouldn't go crazy with an accounting software but instead use excel.The other items likely paid for you outside of the PM company are mortgage interest, taxes, insurance, travel to the property, etc.Best of luck.

@Yakir AloniYou should replace those items. 

2) Balancing Upgrades/Capital Expenditures (CapEx) Against Over-Investment:This is indeed a delicate balance.

Create a specific task list of the items that are consuming your time, train and delegate. 

I re-categorized thousands of transactions and discovered missing items like equipment depreciation, which not only affects 2022 taxes, but will be valuable for years to come.

@Wai-Ming LauMost contractors will not give you an itemized bid while walking a property.

If you leave it open-ended, they may take the TV, computer, and a few other items of value and leave you with everything else.

@Connor Heaton, I agree with Gino, that some HOAs cover exterior items, and some only cover certain items.But beyond, the specific items covered by this HOA, they will also want to understand how well funded the HOA currently is for items.