The owner also needs to save for big ticket items that may need to be replaced every 10 or 20 years such as AC, hot water heater, furnace, roof.  

Are these the only items we need to document?

You're giving up some good tax benefits since you're in the tier of taking itemized deductions.

Stock Market = Multi-Unit Property = Established Business = Payoff rentals = Hard Money Lending = The ideal situation is too invest in the item that will get you the highest return and lowest level of difficulty / time spent.Best of luck

Will itemize for brevity purposes:- Mother wants to move to Saint George, Utah and get a home in a 55+ community- Me (son) has cash and wants to buy the home for her.

An example of a mistake was a line item for alimony that I found on my taxes (I am single and have never been married).

I haven't had a renter's insurance issue, but have done this for maintenance items.

But enough to make to do all the cosmetics along with a few major items like HVAC, appliances, etc.

So, in reality every month your moving close and closer to sucking out months/years of profits via items aging out, cap-x coming to bear. 

One important item to note about bids: most smaller contractors are terrible at estimating.