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Howdy y'all, wanted to start making a habit of reading the forums and participating.

That worked for me since I needed the time to work on getting my already-purchased replacement home habitable and move stuff gradually.   

Otherwise, it is pretty easy, fill out a form at the beginning of the lease and at each renewal, comply with the inspection once a year and meet the habitability standards. 

Good boots on the ground are vital.  

@Jimil-Anne Linton- Sounds like you have some good habits working for you. 

Act like it's a vital piece of your REI business. 

It's absolutely vital and whether you want to admit it or not, it makes or breaks many deals. 

.-- The property is probably not currently habitable and is likely not ready to put into service (bathroom not functional, among other issues).-- I intend to put it into service as a rental, possibly a STR, which seems to generally drive a 39 year depreciation schedule if I understand it correctly.I understand prior to the property being put into service, most rehab costs need to be capitalized. 

Cutting down maintenance & replacement costs are vital going forward.