But if it’s more substantial, like protecting the floor and adding years to its lifespan, then it’s likely an improvement, which means you’d need to capitalize it unless you can use that safe harbor.

Yes, your parents can take out a HELOC on their paid-off home to help fund your BRRRR, but it’s smart to have a contract in place to outline repayment terms and protect everyone involved.

Also, if you have a slip and fall and decide to sue your LLC, you have added liability protection.

The strong consumer protections particularly with HELOCs in this State appears to be a knock-on affect of homestead laws.  

If not we replace and charge the customer for time and materials.  

You can exchange ideas with your agent and have him work something out with the other side through conversations but once you all agree on a plan you MUST GET IT IN WRITING so everyone is legally bound and your EMD and interest are protected. 

This applies in most areas of life, but if someone is simply agreeing with you, dropping PM fees down a percentage or offering discounts up front and sounds a bit desperate, they could be experiencing high turnover and poor customer retention.

Experience with STRs - they at least know or can understand the extra steps it takes to make ready the properties, including photos (cleaners hate taking photos, I've found, even though it protects them from being blamed)2.

Me not being an accounting guru....depreciation was a bit tricky to set up, however they have a few guides, customer support may walk you through it and searching via google will help you put the correct entries.  

My company would essentially do everything for the landlord: paperwork, finding the buyer, rigorously vetting the buyer, payment setup, delinquency protection, and anything else that comes with owner financing.