What's most important is simply having an itemized scope of work for the $70,000 rehab--you want to be able to explain how you got to that number and what exactly is going to be done to the property. 

Guests typically only use their suitcase anyways, Dressers are also a great spot for guests to leave items behind that the host has to then deal with. 

As long as I am diligent about my receipt capture, this limits the number of open items for a bookkeeper to clarify with the client.This is how I advise my clients as well.

We upsold them some bike rentals for that week and ended up more than the "platforms" so we effectively captured there fee, made more money and rented items we already expensed and owned. 

The work took one week to paint the whole interior except living room and hall way, fix some concrete on the porch, landscape, and a ton of miscellaneous items inside the house.

He did not give us items that we had already paid for: new HVAC, all new kitchen appliances, hot water heater.

Lastly, you can ask what other investors pay for items in the area and base prices on that.

I am currently in SWFL and as some may know a lot of properties are getting bid up, some with as many as 50 or so bids on one property.
I came across a wholesaler who is buying properties at the auctions steps and the...

Keep track of what items are purely for the rental unit and what items are for both units.If it's an item that is technically for improvement of the whole house (landscaping, common area improvements, exterior siding/painting) you can only write off a portion.

I don't know what the future holds, but here are a few observations on some items that influence an economy.1) Inflation - Government spending has been out of control, as they attempt to spend their way to keeping the economy going.