Hello fellow homebuyers,I recently made an offer on a house with an inspection contingency covering the roof, foundation, electrical, plumbing, backyard fencing, and pest infestation.

So long story short we have a traveling nurse staying at our rental that got some water damage when the roof was being replaced, they don't have renter's insurance (which we require in the renter's agreement they sign), water damage has been remedied and is cosmetically minimally affected and still very much in a liveable state.

Still making mistakes and learning.Sometimes you have to tear the roof off the old structure and build new. 

So as soon as your number leaked out in ONE place, it's out there.

Assets identified in this study include:Permanent Fixtures: windows, doors, bathroom fixturesStructural Components: Roof construction, drywall, wood framingBuilding systems: water heater, electrical distribution, HVAC, plumbingInterior Construction: Wood flooring, stairs, ceramic tileThis engineering-based cost segregation study included the following methodology:Physical Inspection through a site visitDocumentation review including architectural plans, accounting records and construction documentsA cost analysis which utilizes engineering principles in order to allocate costs to their applicable asset classificationsCalculation of the depreciation schedule using MACRSAs a reminder, bonus depreciation started to phase out in 2023.

Hiring a bookkeeper to watch the income/expenses is like hiring a gardener to tell you how many roof shingles are laying on the ground after a wind storm instead of hiring a roofer to repair the roof.I recommend that you look for a quality property manager who can maintain the properties and help with the bookkeeping.Start by going to www.narpm.org to search their directory of managers.

Like should I start at the roof and go down, or start under the house and go up?

There is roof damage, probable damage to the trusses, and the water line busted.

Also just keep in mind characteristics of the property that carriers wish to avoid such as roofs 10+ years old, old/recalled electrical panels, no impact windows etc. 

Since they don't all go up, we do a maintenance inspeciton to ensure there is not a leak or running toilet then we increase rent to compensate.