The custom home has the high quality carpet, soft close Amish made amazing cabinets, 18' ceilings wiht an 18' fire place, etc...the contractor house has contractor grade carpet, the cheapest kind of cabinet you can find with no molding, etc...  

Not being a tax professional, what is considered in service and not is well above my pay grade :)  Same for deducting your audible acct without a business entity.I do know to get my new properties in service ASAP and have postponed repairs until after rented to qualify for that.  

I would like to do about $300,000 in improvements over the next 3 years, starting with curb appeal and energy efficiency items, and updating units to modern B- grade as they turn over.

@Amit Friedlander  basic things to look out for when dealing with old houses in my area:-asbestos wrap/tile (some old houses have asbestos in the plaster, ceiling and floor tiles) -foundation / grading (look for cracks in the foundation and low spots in the yard that could cause water penetration)  My neighbor has to rebuild one of their basement walls (huge expense)   -up-to-date capital expense items (hvac, plumbing, electrical, roof, siding etc.)Akron area:Since I have worked here (2012 - present), it does look like they are making some gradual improvements - a lot of construction going on which can be a good sign of growth.  

Like being in the 9th grade and attending a graduate class at a university, they just aren't ready.But, if you are basically "formally" educated in real estate, finance, with a dash of business law, then this type of seminar would be very good I'm sure.

My first act of recorded entrepreneurship was when I was in only the third grade.

In a few weeks, I'll also be doing some grading in a couple of low areas around the outside wall where the seeping is the worst.The drains were plugged (I'll fix those in the next day or two) so standing water caused some mold issues. 

It's all about the minimum cash on cash you are seeking with the debt when you lock in the interest rate and amortization schedule.For STNL most categories are pharmacy, banks, dollar stores, auto stores, restaurants, medical.

I now choose $30-50k homes in C grade neighborhoods that are blue collar.  

If you do land on Cleveland as the market you want to take the plunge in I suggest reading The Ultimate Guide to Grading Cleveland Neighborhoods.