I placed that aspect on the partner.How did you add value to the deal?

If you want to go the route of showing them the aspect of being an investment for you, I would not show them your actual numbers unless they are razor thin on your profit to begin with.

@Amber Landry Depends on how you define "investor friendly"...you looking to borrow or just a solid banking experience? 

Roofs, vehicles, furnace, etc are each depreciated on their own schedule as defined by the IRS.

@Rob BeaumontHey congrats on starting you’re path, I’m also a newbi just one 4 family under my belt but working on the second one , If I can give you my humble input, study everything , read books, ask question on BP, anything that gets you’re knowledge up , and take action, since I bought my almost moths ago ican allready see a change in my life , speaking in the overall aspect, Keep it up!

Sounds like that may be even more of a concern when you're working in lower income areas, as they're probably going to have more issues.On top of that, the property is listed as a 4plex, yet the county records show it as a triplex with a garage (so they likely converted garage to an additional unit), and the "land use" is defined as single-family (which is confusing, because the same page says the property is a triplex).Will be talking to the current PM hopefully today to get his opinion on the property and area as well.

If you go to court the judge is going to say what did you both agree to, let me see your lease.It also defines expectations to the tenants and what is acceptable and unacceptable behavior.It defines how much the rent is and how much deposit you are holding. 

There is a little of a subjective aspect in lead inspections.

How do you calculate the 1% in the One-Percent Rule?

There’s obviously the possibility of not being a lot of meat on the bone especially from the aspect of wholesaling.