We know the upkeep has not been good and they told us they had someone look at the inside and quoted them around $30K.

.- Curb Appeal & Upkeep – First impressions matter!

Also, explain how you'll share the acquisition costs, such as the down payment, renovation, and closing costs.Payment Responsibilities: Explain how to divide and pay for regular costs like mortgage, property taxes, insurance, homeowners association fees (if applicable), and upkeep expenses.Management and Maintenance: Agree on how property maintenance, repairs, and improvements will be handled, including decision-making processes, funding for these activities, and responsibilities for performing or managing the work.Single Decision Point: For example, I've seen situations where one person agreed to replace an appliance while another strongly opposed it.

You'll also want to ensure you have a good property manager to look after the upkeep of the property if you are not there to notice anything deteriorating or which may need attention.Creating an LLC in California could cost you a minimum tax of $800 every year.

We wanted the assurance of upkeep we thought was going to happen with DCA because the tenant would keep it up to avoid losing their funding.

Sure, it will take a few days but worth its weight in gold. 

People use the rule, but the rule makes no sense because it does not take into account building upkeep and cap ex.Look at this awesome building you have.

I know a vacancy is tough and it can be hard to find tenants in the winter, but you have to weight the costs and benefits and decide.If it's harder to find renters in the winter, try offering a month-to-month lease just to get through the winter, then move back to a one-year lease in the spring.

so holding costs are interest on the loan, insurance, and any upkeep on the property. 

Business credit is largely irrelevant until you get into the true CRE and commercial lending space, and even then, the key principles are weighted heavily.