Your property is fairly destruction proof, costs near nothing to maintain, yet you can charge above market rents.If your property is nicer (class B) where the carpet alone might be $6k or more to replace when the tenant spills hair dye everywhere, you won't be as happy as in the situation above.  

But once they give it to you, you inherit their cost basis and have a taxable gain.

I’m not from the US and currently live in Europe most of the time.I’ve found some apartments that could work well for my needs—I plan to rent them out on Airbnb and reserve a few nights for myself when I travel there for work.My question is: apart from the purchase price (I’ve seen listings on Zillow averaging around $150k in areas like downtown Dallas, Old East, and Plano), what other costs should I expect—both during the acquisition and in monthly payments?

A friend of mine, Ryan, who invests heavily in Baltimore, realized his interest costs were eating into his cash flow.

Currently, I have American Family Insurance and it ends up at the end of January.Any information is really appreciated .Best regards and thanks,Carlos

In US tax law, the depreciable lifespan of an asset is defined by its MACRS classification which stands for “Modified Accelerated Cost Recovery System.”Under MACRS, depreciable assets are assigned to different classes, with each class having a specific recovery period.

What are the costs for the value adds, the expected hold time, and the expected sale price? 

Then do a 'seismic strapping' to aid in halting further movement.IMHO this should cost closer to $20,000.

yes create the addendum but realize the tenant who has been paying could ask to be reimbursed for these costs as well as not accept the addendum.

I assume a higher upfront cost as far as land purchase and the actual build but you would have a brand new house, instant equity and hopefully maintenance free for quite a while.