What made you interested in investing in this type of deal?

They miss the forest for the trees.Lots of investors in different forms do this type of stupid ****.

The answer to those questions varies significantly depending on the type of facility (open, covered, enclosed, mixed), geographical location, competition, and local laws. 

But even then the prices for new are so close to used, it is hard to justify used now.I find myself thinking that it is probably good to do some appliances used and some new depending on the type of appliance.

@Britney RossI’ve been in the RE business for over four decades now.Most of that time spent in the single family brokerage and investing world.Several years ago, I made the decision to transition from SFR to multifamily.Despite decades in the industry I felt the need to educate myself about MF.I paid for an intense 2 week education program and then a 3 month mentorship.Trust me, it was worth it.During the mentorship, I acquired a 43 unit property with the help of my mentor.Fast forward 4 years later, I am in a General Partner in 1000 units worth $130M.So for me, it was money well spent.You didn’t mention where type of investing you wanted to do.If it’s MF, you are going to need partners and help.

Are there any best practices for maintaining accurate financial records and documentation for these transactions?

Security deposit amountYou can find plenty of examples by searching for "tenant estoppel certificate doc" or exchanging "doc" with "pdf" for more options.Here is an example and explanation: Sample EstoppelSome have a lot of legal jargon but this document does not need to be so detailed.

You may also be eligible for state tax credits based on state, filing type, etc.

Renting out one apartment, currently renovating one apartment What made you interested in investing in this type of deal?

Where I am in AB (which is quite different than Edmonton or Calgary at times), prices hadn't really increased a lot until last year and right now most starter type homes are selling quickly (within a few days of listing).the higher interest rates have a big impact on what people can buy and when it comes time for renewals, it can be scary.