But ultimately you make money managing properties. 

The rent you see is below market rent on a few of their units as their strategy with good tenants is longevity vs. keeping pace with market rent and spending money on turns every year. 

Pre-rental taxes can be an itemized personal deduction (Schedule A) if you don’t exceed the $10,000 state and local tax limit.Expenses incurred to get the property ready for rental, but before it is actually available for rent could be added under startup cost and can deduct up to$5,000 in the first year, if total start-up costs are $50,000 or less. 

Quote from @Luis De la Puente: In your experience, how do you see private money lenders shaping the real estate market, especially for fix and flip projects?

Putting less money into the property upfront would give you a greater return on your money because you're into for basically nothing out of pocket upfront! 

For example, can you put a kit shower in, and save the money versus tiling the shower etc?

I've speaking with a lender about the possibility of a DSCR loan and once I get my GC license the possibility of hard money then refinance.

Hey Paolo, I would say before partnering with anyone, I would figure out the person's strengths and weaknesses' before doing anything.

Do you have property management that keeps your money in your pocket?

This has been with my own money and there are more improvements I’d like to make.