You are required to file a complete and accurate return, which means reporting the income that you earned along with atleast the direct expenses that you incurred on your rental.There are two comflicting forces - Your tax accountant wants to be aggressive with deductions because it will entitle you to paying less taxes(now or in the future).Your lender wants to see as much income as that will increase your Debt to Income Ratio(DTI).The good thing is that you can speak with your lender about 'one time expenses', that were only incurred in that year and are not reoccuring. 

You can expect to pay about $5k per year or so, depending on where your unit is and how much you pay for it.I can give you more accurate details and help run numbers on your unit with you, if you like.

The key is to accurately reflect the type of income/expenses and the timing of everything.

I ask because the first result on the vertex42 website for "amortization schedule" is an accurate one:  http://www.vertex42.com/ExcelTemplates/loan-amortization-schedule.html

It sounds like a solid deal, but there’s much more to consider before taking on significant debt.Here’s my advice for anyone new to real estate investing, especially young investors:Properly Vet the Deal: Ensure the numbers are accurate.

I personally recommend working with a CPA who prioritizes integrity and accurate tax return filings, so that if you're ever audited, you won’t face back taxes, penalties, or interest.

A lot of the data you are looking at in terms of what homes rent for down here are not accurate btw.

To capitalize on the above statement, 50% ltv for land is accurate.

But, be warned, GPs - if you threaten your LPs for posting generally accurate negative stuff about you on BiggerPockets, we will make a public example of you for all to see.Hi Scott, thanks for starting this thread.

This gives me access to a large network of skilled contractors, including plumbers, HVAC specialists, electricians, and general contractors.I’ve identified a promising opportunity with an auction property, but I’m unsure how to accurately estimate rehab costs with only a small window to do so.