I understand not buying more up there, but your initial investment there will turn out well.You can check out the BiggerPockets video podcast and leave a comment if you have questions. 

His initial opinion is that it has to be prorated but that is contrary to what I have heard on YouTube. 

The main reason is that it is not initially set up for a Real Estate business like other “real estate-specific” accounting software.

I got good at estimating renovation costs by making an initial estimate based on photos/walkthrough, drawing up a model like you see here, then once the project is finished, go to accounting, get the actual expense report for that property, and update the model.

He was initially terrified of buying a place with a pool.. thought it would scare off insurers and sink his returns.

Proc. 2004-51, qualified indicia of ownership were transferred to the the earlier of a total of 180 – days or the date upon which the exchanger has to file its tax return for the year in which the exchange was initiated, to complete the purchase of the replacement properties."

I’d love to get feedback from anyone who has been through a similar process, as I’ve received some conflicting information.Here’s the situation:- My lender mentioned that even though my loan-to-value (LTV) ratio is below 80% due to the renovations (currently at 73%), I can’t request PMI termination based on the property improvements alone, since the renovations were part of the initial HomeStyle loan.

But, that aside, I’d like to initiate a discussion of where note investors feel the opportunities will lie moving forward.I’ll go first.  

Just by getting initial quotes via turno, the cost to clean is more than how much it’d cost to rent the property for a day. 

If you value short-term savings and a lower initial payment, Option 1 works well.