QuickBooks is a great option for tracking rental property income and expenses, but there is a cost associated with it.

I see you're in the Raleigh area, I would also look into the North Carolina Real Estate Investors Association there.

It is FSBO, owner is old school and simply looking to get rid of the headaches associated with being a landlord and fund his retirement.

As I'm sure you know watch your expenses on this one closely to try to re-coop some of the unexpected costs associated with the furnace.

There are tax filings and yearly fees associated with them. 

Especially for the associated risk.I don’t know his location, but buying right and borrowing as much of the purchase price and rehab from a Private/HML would be easier and defer much of the risk to the lender, not to his family’s home.

The $100,000 cost of the original structure in 2021 would not be depreciated further because it was demolished.So, for tax purposes, you would only depreciate the cost associated with the new construction, not the original structure that was demolished.

I used 3/4ths of the $391k because we decided that 3/4ths of the new property’s value was the building and we can’t depreciate the 1/4th of the value associated with the land. 

We note that an analysis of SEC Form D filed by Nitya associates appears to show its deal flow drying up.Applesway Investment Group is led by Koteswar “Jay” Rao Gajavelli, another product of the anyone-can-do-itreal estate seminar circuit.

You can reach out to your local (state) Self Storage Association, peruse topics on You Tube, and certainly many, many forums here on Biggerpockets with quality folks & quality content.Regardless, of how you piece your learning together, everything (soup to nuts) for an Acquisition is either FINDING a lead, EVALUATING to determine if it's a deal, now you're in the PURCHASING phase, and after you close, now it's all about MANAGING.If you think that at times it makes more sense to build than to buy, then you'll want to learn about Development & Conversions.