A savings to put deposits and another account for everything elseyou don't need separate bank accounts as accounting software will classify all of those items.

Due to item 1, adding an ADU can require years to start achieving any return (once the accumulated cash flow recovers the initial negative position).4) Adding an ADU is a slow process.

Reassess whether you need the home warranty, flood insurance, or other items.

Would you have any recommendations, in your experience, for what to look out for in the documents that would be red flags or items that would negotiable?

As expenses fluctuate (property taxes, insurance, maintenance items, etc), the cash flow will be up and down and unreliable.

I am only familiar with the contract in my state but items seller agrees to do based on inspection findings are their responsibility unless spelled out differently.  

Eric,Without going into too much detail on each line item, at first I use my back of the napkin method with a 40-50% expense ratio.

In my area (near the beach) its mostly families and they want cabanas, baby items, chairs, coolers etc that we do not provide but I have a local vendor that delivers and picks up these items and charges a few dollars per day for each item, and give me a 20% referral. 

It’s an item in our roadmap, but maybe I just need to prioritize it to the top of the list in 1H 2024.Bottom line is that I allowed us to stop supporting it several years ago, in a decision I wish I could have back. honestly, I used to use the app personally as well.

First you need to learn to separate the following:Maintenance: usually things related to wear & tear or tenant damage.Repairs: usually broken items like doors & windows, caused by tenant or nature.Capital Improvements: usually expensive things that wear out: hot water tanks, furnaces, roofs, etc.The seller is correct that Repairs & Capital Improvement items should not be a factor for awhile (ALWAYS get your own inspection to confirm).