It is not, it has limited application, and for travel expenses it does not apply at all.If you do not have a mileage log, you have to do your best good faith estimate and then pray that you're not audited.

You could roll an estimate for utilities in with the rent to make it easy, or charge each month which takes a little more time/effort. 

The only reason I knew they had scheduled their closing date is because I texted that several workers would be out to give me estimates for yard work. 

Go back home and create a spreadsheet and estimate what you need to do. 

Then, I am using Rent Property Calculator and mortgage payment to estimate if the property can yield a positive cash flow.

I estimate high of what the bill would be and put it on their lease, I have not had any issues this way and if the water bill goes up, I will increase on the next lease. 

Does seem fairly reasonable 🤔 went high on the Reno estimate and maintenance costs ect and low on the rental amounts.. so hopefully it will work out better.. 

I'd love to utilize their expertise when assessing a property since they are local but I'm not sure what the general expectation is when I don't have a tangible property and I have not entered into contract to work with them yet.Some questions I have are: local regulations/permitting timeline, property's potential from their perspective, landscaping/amenities cost estimate (they also help facilitate this).

I estimate we should be able to cash flow ~$400 per month after 10% for Cap Ex, vacancies etc set aside. 

Overall projections are not far off from estimates.