The capX on this property all checked out so we have a few years to save for some of those bigger items.

Our parents helped us pay for it, which for me personally was a hit to my pride because I wanted to feel like I was providing for my wife, not having to rely on mom and dad.Second, this house just had tons of maintenance items that would come up over the years.

See below a checklist of items you will need:Copy of your Driver’s License(s)2 Most Recent Paystubs2 Most Recent Bank StatementsMost recent retirement/investment statement covering the most recent 60 days2 Most Recent Tax Returns2 Most Recent W2’s/1099’s2 Most Recent K-1’s, if applicable*If your ownership is greater than 24%, please also include copies of your 2 MostRecent Business Returns, YTD P&L and Balance SheetFor all properties that you own, please provide the following:Current mortgage statementIf you do not escrow for taxes/insurance or if you own free and clear,please also provide:Current insurance statementCurrent Tax BillCopy of your current/most recent HOA receipt, if applicableFor any/all investment properties, please provide a copy of your current leaseagreements, if applicableIf you pay/receive child support/alimony, please provide a copy of your completedivorce decree and/or child support agreementAre interest rates the same as buying a primary residence or higher?

Some items I will leave to the experts.Secondly to that do I need to put an offer on the house and have it under contract before going through with an inspection or walk through with a Contractor?

@Wesin NurThe 1% rule is just a general rule.with all things being equal, good neighborhoods will have a lower % than areas with a bad neighborhood.Good neighborhoods normally require less upkeep and may survive by collecting less than the 1%You also want to determine what the costs normally are for items such as real estate taxes and insurance.If you are in an area with a high property tax / insurance, it will likely be harder for you to cash flow at less than 1%.

But you are off on a few items. 

But I sell for net long-time rentals that have punch list items to first time buyers. 

Payments that you make normally fall into one of 3 buckets100% of the payment can be factored in somewhere on the returnPartial payment can be factored somewhere on the return0% of the payment can be factored in somewhere on the returnHouse-hacking also has considerable tax implications in the event that you want to sell this property.You can potentially defer a portion or all of the gain on the investment property with 1031 exclusion.You can potentially exclude a portion or all of the gain on the personal residence with section 121 exclusionThe answer to your $10,000 question is it depends on if the unit is in service and what the breakdown of the $10,000 is(repair vs improvement) and if there is any safe harbor/election to currently expense the items.

Do you know what items are dragging your score down?

Every resident should leave behind part of their story and history.Add an inspiration page to the website.Would even be fun to do DIY projects with the resident directly.Offer additional services as needed, including healthcare support, social support, general errands etc.Leverage nursing friends to create a home health care wing of the company.Explore research on the use of therapy animals, and incorporate into services.Create events that promote group interactions across the various tenants within the GNA community.Team sportsRegular cookoutsTeam buildingFind ways to focus on any positive impacts for children in the home.Look into unique tutoring or home schooling business ventures.Provide ride services to ensure kids get to school.Offer daycare services.Create a unique fund matching opportunity to promote investment in an early fund for either graduation or retirement.When a resident is ready to move, offer support in other available properties within the GNA, or moving services to their desired location.Build a department to assist in everything moving related, including processing procedures for personal belongings that may not fit in the new location.Explore the idea of a “Brick and Mortar” operation to deal with accumulation of household items that is an inevitable part of the entire process.