Andrew Johnson “I use Appfolio out of santa barbara, ca its definitely not free and my property mgmt company passes those costs down to me which I think is around 50-60 bucks a month based on number of units under the service.I am able to see all reports from rent rolls, cash flow statements / trailing 12 month cash flow, tenant ledgers, maintenance requests, dialog between tenants and mgmt staff, resolutions to maintenance requests, move in pictures, move out pictures, or video, and many more features.What I like is that it allows the vendors to be in a dialog/text/chat box so they are prepared (vendor) prior to job assignment with lockbox codes, scope of work and pictures before they even go to the site so we dont waste time figuring things out and run up a huge $$$ bill for lack of efficiency.”

There is one already rocking and rolling!

@Laura H.I think what the speaker was referring to was to get a copy of the Rent Rolls to verify whether rents are actually being paid. 

Sounds like the deal is to basically get the ball rolling ahead of time by meeting with and networking with several lenders while figuring out how each particular lender functions.

The cans had been sitting in the garage for weeks and he called me today to tell me 8 are gone and 2 are remaining as well as 2 rolls of wire.

Over time, as I've grown, my analysis has become actually simpler (most people might assume as you grow and learn that your analysis becomes more complex).I've gotten to the point where I buy properties sometimes without viewing units and simply looking at a basic rent roll.  

These items are usually small enough during the construction phase that it doesn't really make sense to separate them out, so if you choose to roll the first 3 into the basis, that is acceptable. 

Though, obviously the original owner would get his distribution from the rent rolls.

I am not sure if seller is current allocating that water expense to the units or rolling it into the rent.The big upside potential here is if I can get the city to license turning that weird 5th unit back into 2x 1 bedrooms each earning ~$700 and getting a big bump in cashflow.

With your portfolio you can easily roll some of them through 1031 into multifamilys and test it out.