I really advise doing everything you can to be on the same side as your residents and to be aligned with them, but some of them may not hold up their end of the bargain.

Otherwise the hold up of the sale and going back-and-forth we wanted to avoid.Because it’s now on the closing statement, are these a deductible repair expense like it would have been had it been before closing that would normally just be under schedule E as a repair expense.Cheers.Since the seller credit is now part of the closing statement, it’s generally treated as an adjustment to the purchase price rather than a direct repair expense.

What areas are you interested in getting involved in and what strategy (househacking, fix & flips, buy & holds, etc)?

Investment Info:Small multi-family (2-4 units) buy & hold investment.

If you want to build equity quickly, some level of hands-on involvement is key.

If you're only doing a couple or so transactions per year probably ok.On the other hand, you can have more control and eliminate the need to go through a custodian for investments by the use of checkbook IRA or Solo 401k.

Investment Info:Single-family residence buy & hold investment.

Hold steady.  

Be willing to hold them to these standards.One of the best things I ever read in these forums was to be firm, but fair.

Start smaller, purchase for cash 200k, 50k for renovation and holding costs.