In my personal experiences a lot of structural items start with bad drainage.

We provided an itemized list of work done and the price while returning the security deposit.Tenant is claiming that everything was wear and tear and is demanding receipts and proof of damage.As per my knowledge landlord is not needed to provide receipts in Arizona.

When I was younger I sold a condo with a lease option, but didn’t do it correctly; I had to evict and foreclose.  

It gives you a ton of experience on: dealing with tenants, writing leases, maintenance items, etc - all from your backyard. 

The residential lease market in Washington, DC, from January 2024 to January 2025 has experienced some changes:Units Listed: The number of units listed decreased by 78, a 15.92% decrease, from 490 to 412.Listed Median Price: The listed median price increased by $175, a 6.19% increase, from $2,825 to $3,000.Units Leased: The number of units leased decreased by 58, a 19.86% decrease, from 292 to 234.Sold Median Price: The sold median price increased by $100, a 3.51% increase, from $2,850 to $2,950.Summary: A decrease in units listed and leased indicates a reduction in supply and demand year over year.

Eric,Without going into too much detail on each line item, at first I use my back of the napkin method with a 40-50% expense ratio.

Can you itemize on your taxes and use the interest from your 50% in some way or no?

For example some items during the rehab might need to be brought up to code, completely replaced or might break from other rehab going on due to old age.

Bought/held/sold in East Texas a few years ago and made a pretty penny.

I focus on mid-grade quality items that are durable and pleasant to use yet not so nice that people are tempted to swipe them and are then expensive to replace.