Remodeling costs increase the property’s basis, while post-rental repairs are deductible expenses in the year incurred.An LLC isn’t necessary for a single rental but can provide liability protection as your portfolio grows.

I position my inspections as 'planning for future repairs/improvements' which mitigates that whole 'he's here to get my security deposit' mindset.And, I would rather have the tenant with me than to have him later claim that something was broken during the inspection.  

Paying off the notes, working to pre-emptively make repairs to capex items before they fail or become a major issue think roof, HVAC, and foundation.

This simple update has big implications for property owners, allowing small repairs and maintenance to be handled more quickly and affordably.

This property is ready to welcome its next owner with no repairs or updates needed.

There are still a ton of roofs with blue tarps needing repair/replacement and some debris sitting curbside.  

Remember, in this model, you are planning on holding on to these properties as rentals so pay now in quality, or pay later in headaches and repair costs.

Take the time to break down what needs to be repaired and what upgrades you will be doing.

This can cover unexpected vacancies or repairs.

Class C bought in 2023 on the East Side of Indy has not been great, repair calls 9 times out 12 months.