The UOP for a building generally is the building and its structural components so you cant look at plumbing and other costs as one UOP. 2)  You qualify for the  Small Taxpayer Safe Harbor Election.A qualifying taxpayer can elect not to capitalize (and, thus, can deduct) costs to improve an eligible building property if the total amount paid during the tax year for repairs, maintenance, improvements, and similar activities performed on the property does not exceed the lesser of  2% of the eligible building property’s unadjusted basis $10,000.An “eligible building property” is a building, condominium, cooperative, or leased building (or portion) that has an unadjusted basis of $1 million or less. 

I retain a very compentent CPA for his expertise who specializes in real estate and cooperate accounting.

@Adam Rothweiler reach out to @Travis Sperr or @Justin Cooper to get info on getting this financed. 

.§ 1-2 The Property Manager shall cooperate with the governmental agency charged with regulating the practices of Property Managers.§ 1-3 The Property Manager shall comply with all relevant local and state ordinances regarding real estate law, licensing, insurance, and banking.§ 1-4 The Property Manager shall comply with all federal and state antitrust laws and shall follow the NARPM® Antitrust Policy and any related procedures.§ 1-5 The Property Manager shall not reveal confidential information of Clients, Tenants or others except as required in the course of performing his or her duties or as otherwise required by law.

Am I fooling myself to think others would want to work cooperatively versus competitively?

In our domain there is programs like section 8 - which we all know is grossly underfunded relative to the need,  and has other problems that make it a much less appealing program to cooperate with than it could be.   

How many tenants have you had to chase for MONTHS to get them to cooperate with the application process?

You have a right to inspect the property, sonic he isnt cooperating that is an issue.

You have to hold back a percentage of money in case a late claim comes in.So, for you, the first step is to get a title report and see what it says, then to get the mother appointed as executrix (takes time & money and her cooperation) but then during the process and after that you never know what she is going to do.

Owner Gone is a homeowner in a typical, but cooperative American neighborhood.