Separate book sand records are maintained to reflect income and expenses for each rental RE enterpriseNote: A separate real estate enterprise may constitute multiple properties as long as all commerical or all residential as noted above4. 250 or more hours of rental services are performed for the enterprise (see detail below)5.

In the IRS guidance, they even overtly state that they moved the de minimis section to make sure that it was obvious that it applied more broadly: "In the final regulations, the de minimis safe harbor has been moved to §1.263(a)-1(f) to reflect its broader application to amounts paid for tangible property, including amounts paid for improvements and materials and supplies" They also seem to make it clear that de minimis applies to almost everything that the materials and supplies rule applies to: * (f) Application of de minimis safe harbor.

if there are a lot of positive reviews, the few negative reviews reflect more on the reviewer than the host/unit. 

I will say, however, that such a practice is becoming more common as time progresses and the need for Litigation Protection against Landlords/Investors becomes more important, so most lenders are adjusting the language in their Contracts to reflect this.

StateZip CodePopulationOpen Rentals (Zillow)RatioFL3221853,4731770.33%FL3209715,616460.29%FL3225826,759670.25%FL3224457,3691420.25%FL3222127,918610.22%MD2123469,752320.05%MD2123730,059120.04%MD210143604770.02% The third party websites do not always reflect the exact status of available units and often the prices can be way off.

We have a brand and unfortunately not everyone has the same standard of clean that may reflect back on us.

Some sellers will provide P&L sheets, but I recommend doing your own math regarding expenses; I place no value on gross numbers, because they can vary so widely depending entirely on management style and have very little reflection on the property itself.In the area, you're required to remit a 9.75% sales tax (combined state/local), as well as a local lodging tax that varies by jurisdiction (my rate in Sevierville is 3%) so I'm paying 12.75% taxes on my gross income.  

Flat paint also has less sheen so it is less light reflective. 

Usually, porches and some garages are not attached to the house itself, meaning the foundation and sides are not attached to the foundation of the house, and structural defects will just reflect to these areas. 

@Kelly CruzFlips should be recorded as "Current Assets" and reflects on the Balance Sheet.