There is a column for "maintenance & repairs" where I allocated $1200/annually because I thought that was the same as Capex.

@Devin Wilkinson not sure about the tax records in TN, but here where I'm at you see this occasionally when someone buys a bunch of properties in a bundle, i.e. the $249,909 may represent this property and several others all sold at the same time and of that only approximately $56,700 is truly allocated to this property.

We work with a lot of folks oversees and out-of-state to safeguard their real estate investment projects and ensure their funds are being allocated appropriately with contractors – so it can be done!

A very, very conservative asset allocation between Vanguard Total Bond Market Index Fund (VBTLX) and Vanguard Total Stock Market Index Fund (VTSAX).  

Unfortunately, we have seen a lot of redevelopment money, redirected and not being used for their original allocation purposes, being that we are the State's capital Sacramento sometimes suffers when there are shortages and investing in future expectations could be costly.However, this is just my pennies worth, (I wouldn't even call my two cents) but make sure you do your due diligence before you invest and know that a lot of us local investors that are trying to stay on top of the curve are looking at the same areas you are looking at, you just need to be careful how you invest in those areas.

We had a HUD budget cut in our market last year and it resulted in most of our cities moving their bedroom allocation to two people per bedroom, no matter what.

I am taking the intital investment and profits that total roughly $534,888 and instead of allocating those funds to the development arm of my business I am shifting that to boost my multifamily portfolio.

You better have an agreed upon method for arbitrating potential disagreements and allocating the responsibilities and obligations between you.Write out the list of items and enter into a written legal agreement like you would with any other business partner, because this is still a business agreement, first and foremost.

Hello Ace, I am not sure what your actual property taxes and insurance would be but I used some estimates based on my familiarity with the area and without accounting for property management or vacancy/collection loss you are looking at a cap rate of around 8.5 to 9.5 depending on what you allocate for cap ex (1% vs 2%, respectively). 

Park improvements (utility lines, roads, mobile home pads, etc.) are often allocated 65-80% of the total purchase price for tax purposes.