(prorating utilities by tenant head count for instance). 

It’s similar to how apartment listings are grouped by bedroom count and price.

I currently have 3 partners that I can count on if I find something that makes sense for both of us, or in some cases, all of us.

In hindsight, this probably wasn't the right way to look at this, but we were counting on the cash flow from the rentals to offset some of the mortgage payments on our current home.

I agree that it likely doesn't count for concessions.  

If things work out with this 2nd company, and I have one operating rental in place of two empty lots in North Port, I'll be happy(ish). ya I built 3 up in the Ocala area took way longer but they got done and we did make a very small profit on them but I count that as being very fortunate.

To answer your question though, yes home improvement and marketing counts.

Properties within the same neighborhood, similar bedroom and bath count, similar square footage, etc.

If you rent the basement room to someone or market the house as a whole counting the basement as a bedroom and a fire breaks out and someone dies or is injured in the basement without an appropriate egress from the room you could be liable for all of that.   

I’ve had to check myself more times than I can count, but that’s part of the growth.