Costs before that (during remodeling) are added to the basis.2.

There were a lot of costs that we didn't expect like the plumbing had to be completely redone.

Selling the PropertyIf your parents decide to sell, they could: Sell As-Is: At a current appraisal of $350k, they could walk away with a sizable profit (after transaction costs like realtor fees, taxes, etc.).

Passport 2. 2 Months Bank Statements showing downpayment + closing costs and reserves (typically 12 months) 3.

We almost went with a loan that we have to pay all the cost upfront and then get reimbursed on the back end and that was just not something we were willing to do.

.- Expected renovation costs $1MM.

Line Item Fee Collected Rents 10% of All Collected Rents New Tenant Search & Onboarding $500 Business Hour Service Calls $80/hour + Materials Cost + Tax After Hour Service Calls $110/hour + Materials Cost + Tax HVAC Cleaning & InspectionGutter CleaningSpring/Fall Exterior CleanupSeasonal Mowing & Weed TrimmingSeasonal Snow PlowingGeneral Contractor Vendor Cost + 10% Oversight Fee

The very tragic LA fires have generated a lot of discussion about insurance costs.

.: I’m currently renovating a rental property and exploring ways to manage costs without compromising on quality.

And that can cost you time and money.