Feel free to reach out if you would like more into :) 

Similar to the allowances in a pro forma, they are simply set asides and only become expenses when the property taxes/insurance are actually paid from them. 2) Capital Expenditures - They certainly feel like expenses, but certain improvements cannot be expensed outright but instead have to be capitalized and expensed/depreciated over time.  3) Depreciation - Finally some good news! 

Excited to see where you take it—feel free to reach out if anything comes up.

Feel free to message me if you want to go over the no income options. 

Hi Cherilyn--I have done this:  Face to face visit (hopefully you feel safe or take someone with--if not a call). 

I'm heavily involved in the co-living side of things in the Atlanta market and work a ton with Padsplit.Off the top, nice family oriented neighborhoods are typically a no-go for rent by the room and even more of a no-go if it's in an HOA.Please feel free to shoot me the property address in the DMs and would be happy to provide some feedback!

It's great to ask these questions in the forums to get a feel for things but it's not a substitute for getting "official" advice from an REI-savvy tax pro that you have hired.Regarding what to deduct versus what to capitalize (and depreciate over time), your tax pro can walk you through that for each line item.

I'm not one to take risks but I feel I am capable of becoming a Real Estate Investor as long as I do my due diligence.

I feel like my best route to getting started is by working with partners or private lenders given my current available capital.

There's a great community here in these forums, so always feel welcome to ask questions.