I was shocked as I thought it would be very simple (which it is), but some syndicators will use funny math such as not counting fees, placing expenses on a quarterly or yearly basis when using IRR (backloading to end of year). 

GC’s who have been around a long time are guys you can count on to build long term relationships with, they’re generally not the cheapest but they’ll get your projects done with the least amount of surprises/headaches.

Unfortunately, those are treated as personal expenses and aren’t deductible.As for the repairs and improvements, fixing leaky pipes counts as a repair and can be fully expensed in the current year.

@Cole HarrisKeep in mind that square footage has a lot to do with pricing as much as bedroom count and/or revenue. 

For a 2 bedroom my projected ongoing is around 13-15k (not counting the rent) at the end of the year because this is my first Airbnb Arbitrage I have and will make mistakes expense wise, the start up costs also is not factored because furnishing and starting everything from scratch obviously will skew the ongoing expenses which would add another 5-8k but I played it smart and have most of the funding charged to buisness credit cards with 0% APR for 12-18 months such that I save money and can take the year in paying back also with sign on bonuses which will save me up to 1.2k or more.If and when I hit my conservative projections my profit should be around 16,300-22000 by the end of the year this is after rent, expenses, cleaning fees and so on. 

And when getting a DSCR Cash out loan, the proceeds from the loan count toward the reserve requirements.  

If you can have a lease lined up for your unit they shouldn't count your current mortgage against you and could use that "potential" income as income on your DTI. 

If you are using an FHA you should be able to use 70% of the potential rent from the other units in the building to count towards your income.

Sorry to hear mate 🙏No shame in loosing.It's how you recover and pick yourself back up.If you don't, then that's a shameI have lost more than I can count and so have many others on this forum.Losses are part of business and life in general.Our time and energy comes at a price.The biggest price is the emotional one.I prefer learning from losses as much as possible and doing my best to not repeat the same mistakes.Also, not dwelling on it for long and not living in the past to avoid further emotional drag and doubt about moving forward.Personally, I also don't get involved in lawsuits or collections and consider every loss as my own fault.Moving forward smarter and more experienced.Moving forward and doing my best to make more than what I have lost.I hope that helps and God Bless  yup 08 to 2011 I lost 10 million in equity.. and had to start over in 2012..

From my limited experience, the voucher programs I work with limit the bedroom count that any tenant can apply to so it will say right on the voucher 1, 2, 3, 4, or 5 bedroom.