An INVESTOR should only pay the price that meets their ROI criteria, which should include risk factor!

I added value to the deal by strategically investing $15,000 in targeted renovations, including modernizing the decor and enhancing the property’s appeal with stylish finishes and functional updates.

However, as a landlord, obviously I want to include as many terms as possible to spell out what is and isn't required.Thanks again for your insights!

Pictures are included.

Make sure you know the impact that adding an ADU will have on any rent control. 12) investors seldom include the land value in the overall ADU costs.

It’s to take advantage of the 2024 bonus depreciation rules which include 60% bonus in year 1 for any life classes less than 20 years.

@Karen Seguin, it all depends on what you are trying to convey to your tenants.At minimum, any welcome letter should provide updated contact info for maintenance requests and mailing address for rent payments, and if the legal notice address is different than lease, include that.This can also be a good way to politely remind people of any general rules that you expect them to adhere to.  

Hello @Michael Dallas,To verify the seller’s information, ensure you request these essential documents:Rent Roll (to confirm rental income and occupancy)Lease Agreements (to review tenant terms)Financial Statements (past 1-2 years, including income and expenses)Property Tax StatementsUtility Bills (if applicable)Maintenance Records and recent CAPEX reportsInsurance Policy DetailsInspection Reports (any recent or previous reports)These will help you confirm the property’s income, expenses, and condition.

I have a chance to acquire a property that includes a mobile home park (100% leased) and a separate multifamily property.

From page 730 (emphasis mine): "All non-business tax deductions and exemptions that were temporarily suspended by the 2017 tax bill should be permanently repealed, including the bicyclecommuting expense exclusion, non-military moving expense deductions, and the miscellaneous itemized deductions.23 The individual state and local tax deduction, which was temporarily capped at $10,000, should be fully repealed.