Also, you might be misssing few grand of the cost that could be added to the basis.

Would the total amount owed on the trailers be added to the capitalized value?

You would then use this account for your credit from the above transaction.Make sure it's not included with your other expenses because you want your Profit and Loss to look like this:Income  xxxExpenses xxxNet Income xxx  <-----  This number is still really important to keep track ofNon Taxable Transactions xxx <----- This number will need to be added back to the Retained Earnings number as a manual adjustment on the tax return, if this is a multi member LLC, S-Corp or C-Corp. for each year going forward. 

What I would do is contact some of the bigger listing agents in town and ask to be added to their list.

Anything longer and they need to complete the application screening process and be added to the lease.

We are taking a step back on this property for the moment because the numbers just do not appear to work, especially with the needed features that would need to be added to get it up to its full potential.

Mike, The purchase price was the price so the 27,500 wouldnt be added to the 105,000 that was just the 25% down and some closing costs. 

If approved, the new person will have to be added to the lease.

Income that is presented on tax returns such as your side business and rental income can be added to your day job.

These can be added when an initial offer is made or later  during the process.