Tenants are MUCH more 'energy efficient' when they're paying the bills themselves.

For that kitchen, I would have installed two $15 to $20 ceiling lights that give better lighting, a cabinet over the stove to drop the fan lower, more cabinets and a tile or linoleum floor.When we remodel units our goal is to do everything possible to reduce maintenance in the future.

However, you can actually save millions of dollars in taxes by starting during the blueprint phase.Here are some examples of ways to save on taxes:For conference rooms in a hotel, Instead of installing regular walls, if you install moveable walls, the walls could be depreciated using the rules of bonus depreciation.For a multi-family apartment complex, changing the model of the bathroom exhaust fan to a variable speed could help qualify for the energy credit which is $2,000/unit.For a large apartment complex, installing a ceiling fan could allow you to qualify for 45L tax credits.For a hotel, if the porte-cochere is detached from the hotel building, it could be fully deductible in year one as it could be considered a land improvement.

Another vote (from another local) for house hacking here in Socal.A trickle of cashflow from the Midwest is less valuable that reducing your cost of living and building equity here on the coast.Best,Jon

@Deirdre Cullen I would recommend buying used furniture from Craig's List, Kijiji, Facebook Marketplace ect. as students can be fairly unpredictable and reducing the cost up front would be the easiest way to reduce your risk.

If you find something close to where you live and reduce that management fee you can make more money.  

I'd want all the answers before I spend all my time and energy!

.- Reduced excessive operating expenses.- Streamlined and property management processes.- RUBS implementation.- Addressed deferred maintenance.- Implemented defined tenant selection criteria.

The rents were substantially below market and we identified significant arbitrage opportunity through select unit and common area upgrades, leading to rent increases and reduced operating expenses.

Putting appliances in once you get tenants to reduce the risk of them being stolen because during the rehab you have tons of activity going on.