Reasonable is about 15% over all costs, some leeway can be added, it is a judgment call but they don't really care what you make, they want to know the seller didn't land a naïve buyer who overpaid in a property with an inflated sale price, if it's reasonable and justified you should have no problems. :)

The cost of the septic and improvement would then be added, less depreciation.SInce the home is modular, can it be moved?

Your tenants will probably tell you which improvements are important to them rather than having you guess what would be added value.

But if you feel you need a to be added to their insurance then you would want to ask for a "certification of coverage" for the type of work and the cost limits of the policy.

OR, what if a house has a large attic and a bedroom could be added up there? 

@Robert Lenfestey you shouldn't assume more homes can be added to the mobile home park (MHP) until you've confirmed same with the appropriate jurisdictional authorities.

Variations on this question are frequently posted, demonstrating how confusing the topic is.Bottom line - forming an LLC does not change your tax situation unless you elect to have it taxed as a corporation - which YOU (Andrew Namkoong) probably won't.Whatever INCOME your real estate investments produce will pass through to your individual income tax return, and it will be added to your other sources of income and taxed per the table you provided (ASSUMING you are married and filing jointly - since you provided the federal tax table for married filing jointly.)I recommend getting the BP Tax Book discussed in the thread pinned at the top of this forum.

(see point2).2) if you had a shortage in your prior year escrow, you will be given the opportunity to rectify the shortage, if you don't, they will annualize the shortage and that will be added to a NEW calculation.So say you were paying $100/month. 

I requested to be added to the rei group and I got an email that I was accepted.

I've painted bead-board below the chair rail