Jeff personally has joined strategic calls with my accounting team as we were planning both for implementing tax strategies and for strategizing for future growth, which was about 3 months ago, bringing us to the stage we're at today as we prepare to take on this new project.

The cost of land generally includes the cost of clearing, grading, planting, and landscaping.Land preparation costs, such as landscaping are depreciable Certain improvements made directly to land or added to it (such as shrubbery, fences, roads, sidewalks, and bridges) are generally depreciated over 15 yearsKeep in mind that depreciable rental property costs with a useful life of 20 year or less may be eligible for bonus depreciation.I don’t think the sources that you found are accurate since some of the improvements you mentioned can be depreciated and over a shorter period of time.

It sounds cheesy, but the best way to prepare is to work with a friend or two and role-play.

Fast forward to today and I'm preparing to use Jeff (Blueprint) to fund a new build.

These are some of the ways the clients could be affected by property managers who are not prepared: Extended VacanciesInadequate marketing strategies and tenant screening processes can result in prolonged vacancy periods, translating into substantial lost rental income.High tenant turnover due to poor resident relations further exacerbates vacancy losses.Inadequate Maintenance and RepairsNeglecting preventive maintenance and delaying necessary repairs can lead to accelerated property deterioration and higher long-term repair costs.This can also negatively impact tenant satisfaction, contributing to higher turnover rates.Legal and Compliance IssuesLack of knowledge or disregard for landlord-tenant laws and regulations can expose investors to costly legal disputes and penalties.Failure to properly handle security deposits, evictions, or fair housing practices can result in significant financial liabilities.Ineffective Financial ManagementInaccurate budgeting, expense tracking, and financial reporting can lead to uninformed decision-making and missed opportunities for cost savings.Failure to optimize tax strategies and leverage available deductions can further reduce net returns.Diminished Property ValueInadequate maintenance, high vacancy rates, and poor tenant screening can negatively impact a property’s perceived value and appreciation potential.This can significantly affect the long-term return on investment when it comes time to sell the asset.While a 10% management fee may seem reasonable for a well-performing property manager, the cumulative impact of mismanagement can quickly escalate the effective cost to investors, potentially outweighing any perceived savings on the management fee itself.

From a legal perspective, I would suggest having separate LLCs for each business venture.

During the preparation for the market a sweep is done .

Prepare for the worst, expect the best. - Treat it like a home that you are inviting guests to.

I'd love to scale upwards to those mini-multifamily properties of 8-12 units, but I think taking some baby steps first will help learn and be better prepared for those larger scale properties. 

Financial Preparation: Determine how much you can afford to invest and evaluate your present financial status.