The last 12 months will give you a trend and tell a story of what's going on.Get a rent roll with delinquency as well.30 day DD is enough time, but that starts only when you get all due diligence materials!

Right now, I have 100k to invest, 17k in reserves, 40k in retirement and I can realistically save 30k a year in my current position (60k/yr when I am promoted in a year or two)Back to the discussion topic.

Good contractors don't walk off jobs and they can justify their bid with a written estimate showing cost of materials and labor so you can compare it with any other bid.

So yes, you need to set aside enough money to pay future taxes.Taxes are calculated only on your net profit - i.e. after everything is deducted, including labor & materials, holding costs, financing costs and business overhead such as marketing and driving. 

To qualify as a real estate professional, a taxpayer must meet both of the following criteria:Taxpayers perform more than 50% of services in real property trades or businesses in which they materially participate.

Hey Thomas, seasonality may be a factor but you may just need to switch it up with new marketing material as the old may have been seen before.

You guys sell this stuff, no one promotes this besides the one selling it.  

Under this rule, if your average stay is seven days or less and you materially participate in managing the property, you can treat it as non-passive income and potentially use tax losses (like depreciation) to offset other income.

If not, do you materially participate in the syndication or are you simply a limited partner?

Updating the interior is costing me $63,000 for demo, installation, and materials.