Many investors budget an additional 5%–10% of gross rental income for CapEx, though this too depends on the property’s condition and the age of major systems.

Plus, we like to make it fun so there will be 2 evening events, in addition to all the daytime sessions.

Because of the additional income I am producing through the consulting business, I am afforded the opportunity to invest money in real estate.  

It is much better to have a reserve fund and add it monthly.

Additionally, the city is actively encouraging redevelopment and attracting businesses back to the area.

Give them a 60-day notice, then charge them a prorated rent for the additional 20-day extension.

If you’re comfortable with a bigger investment, a duplex is good for the benefit of additional cash flow and you could house-hack.

My best advice is find a place that has a few rooms with square footage to add additional rooms and an ADU.

Of course, I had to make additional assumptions about the cost of property taxes, insurance etc. 

Generally, a loss can only be claimed in the tax year when the investment becomes completely worthless or when there is a final determination that no further value will be recovered.If the REIT has officially liquidated, been declared insolvent, or issued a final report confirming that no additional distributions will be made, you may be able to claim the loss on your 2024 tax return.