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.

However, its downfall (and really what makes it so easy) is that it is a single-entry system. 

If you get your system and modeling down and follow what I mentioned above with respect to coming up with your strike price/offer price, you shouldn't look back if someone overpays for the property.

An Excel file or other detailed record-keeping system would okay, as long as it accurately tracks your hours spent on real estate activities.

The systems makes this easy for you to do.

I use this type of system in a ten unit that I own because the cost to submeter each one was cost prohibitive I usually don’t include other items like wifi/internet unless it’s a furnished/short term rental. 

I can't always be there for my projects, so as I'm trying to implement a system that allows me to always factor in a GC. 

Do you have a particular system or software that’s been a game-changer for you?

I would like to know more about ways to use OPM  The only way to determine if the home is going to cost you a lot down the road is by determining the age of the mechanical systems & if the structure of the home is sound. 

If you are going to school, I'm not sure you'd be making enough money to qualify for a mortgage.Prices in London are nuts and the real estate system in Scotland is not in the buyer's favour as they do sealed bids.I got started in grad school, but had my parents co-sign a loan (for which I made all of the payments and I had the down payment).