You'll learn a lot just from starting out like that with little to no experience at all (cosmetic renovation cost, managing current tenants, leasing out a unit).

You should split the costs - labor and materials together.

Gen X & Y don't want to get their hands dirty and do these jobs.2) Consider yourself lucky your PMC gives you actual material invoices!

I just bought a lovely 8 unit last April that had been horribly neglected but have turned it around and done some cosmetic renovations and increased rents.

The original intention was to do a light cosmetic rehab and rent it out.

Quote from @Samuel Kim: Hello i am a doctor who wants to use cost segregation/bonus depreciation on my 9 rental houses, my home maker wife wants to meet the 750hr test to obtain real estate professional status and material participation.

I individually priced all my materials and got several estimates from contractors.

Any recommended reading materials, please. 

Here are some of its vitals:- Zestimate: $345K (I know this is typically 10% or so high)- Last Sold: 8/2021 for $281K- Roughly 1400 sqft- Some cosmetic work needed- $25K left on solar loan- The home was build in 2004 and it looks like it has the original AC unit, so I am assuming that needs to be replaced too. - 2 story house with very small rooms and and 2 steps down, imminently as you enter the front door.- Gated community and in a reasonable HOA. - The home is 2 payments behind and already got a letter from the lender about future foreclose.

Spend more than half of your total working hours in an RE business in which you materially participate.2.