I'm not sure how the $1000 relates to the value of the rental so I really can't say if it's a fair amount.

I usually tell new agents looking to join our office that they should expect about $3,000 before they get their first check on all of the business related items

Mostly relating to percent of ownership or percent of rents.

It's the fastest growing metro in the country and rents and appreciation here are excellent, relatively.

My problem is unless the property in relatively new the longest term will be 15 years.

@Jesse Copjec Have you looked in the file place and did a search for "Construction" or "Building" to see if there are any relatively new uploads for building cost projects or calculators?

If the work is done after the tenants are placed, it is already in service so you would begin depreciating it immediately.Without looking at the the costs of replacing the siding with vinyl (and other costs relating to the property), I am going to make the assumption that the work does not qualify for any of the safe harbors under the repair regulations and thus would have to be capitalized. 

@Matt Matyas To have an actionable plan that will work in your area, you'll need to speak with the Town/county board of health and/or a reputable septic installer/maintainer.

All  above guidelines related to conventional loan only.

The subject says it all - if anyone can pass along the name of a real estate attorney they used for setting up an LLC, and maybe to answer some basic legal questions/advice related to it, I'd appreciate it!