But he said the prop. management he looked into out there takes a percentage of profits from everything, including repairs.

After Repair Value (based on rehab plans)3.

Not sure how much you need for the remainder of the repairs.

We had already been planning to do some maintenance and repairs (repave driveway, re-insulate attic, replace two broken faucets, other minor items), but were wondering if, for tax reasons, we are better off waiting until we close on the new home and this is no longer our primary.Can this work count toward tax deductions as preparatory work on rental property, even if it's currently our primary?

Unfortunately a lot of the decisions that are being made by PM are just not the right ones (costs of repairs, what to repair vs replace etc) so it ends up being me jumping in to manage them.

Since you indicate damage, repair and repaint and deduct from tenant.7.

Build a team:- Commercial RE Agent- Lender- Contractor (for any updates/repairs you'd like to do)- Insurance Agent

Just a heads up.So you calculated out you need  $6 million worth of apartments to hit your goal.A commercial loan may require 20% to 30% down in cash, cash reserves, working capital, and closing costs.You will also need earnest money cash.The lender may also require certain repairs to be done Shortly after the loan is made.The lender may also require the Property to be stabilized as far as occupancy percentage is concerned, leaving little on the bone as far as sweat equity.Good Luck!

Homes requiring significant repairs or upgrades are struggling to sell, and sellers are often forced to lower their prices or offer additional concessions.

Have you estimated the repair costs?