Regarding your question:All the work done to the property before placing it in service would be added to the basis of the property and be reported in our Balance Sheet.

You could have some designs draw up that are modular, where it could be added to over time as the market develops.Alternatively you might be two split the land into two parcels and get a 2nd unit of the same size.

Should water heater and whole house water filtration system be added to “furnishings and appliances” along with things like refrigerator in the premises description?

Going forward, we'll be adding this to our expense projections as its own line. 

Should anything be added to this process?

I do a number of things to search for deals like driving for dollars (D4$), reaching out to Wholesalers to be added to their buyers' lists, search Craigslist or Facebook or even properties that are listed on the MLS.

If I refi back to a 30 year, I'd be adding $200 to my current mortgage.

If the pet was not properly disclosed, the 35/month fee will be added to the lease moving forward, and will also be retroactively applied back to the date the lease was originally signed.NOTE:  I was able to collect the penalty fee for a non-disclosed ESA that was obtained halfway through the lease. 

Electrical has been wrapped up and inspected but there’s a couple things that need to be added when time and money allow.

When getting started, other than a contractor & RE agent, who’s the next most important team member needing to be added?