Adding to this, he was working with a property management company that leases properties for long term, and then rents out to students.

Second, if you buy a property and it is 100% occupied, and you have some ideas for adding value that will require upgrading some things, should you wait until their lease is up to do those upgrades?

I spent nothing extra and it takes no time to implement.

You could get all your money back plus a little extra and do it again in 7-8 months.

My understanding is depreciation needs to get added back when selling a property.  

Again, keeping in mind that this is a small duplex, as the landlord I'd rather not pay an extra $40 a month for standalone internet/cellular service.Which leads me to my question -- insofar as the submetering system could function through a tenant's cable internet service, is there any legal prohibition on including language in a lease to require that a tenant maintain such internet service for the stated purpose of monthly water readings?  

If we stopped making the payments, we would lose all funds that we expended in renovating and remodeling the property along with any equity that we added to the property.Second It is also in our best interest to fix up the property and either resell, or refinance as soon as possible.

Adding an extra bedroom in dead space is a nice one if you're doing a buy and hold.

You may, however, need to do extra work if not all partners selling will be participating in the purchase in the exchange - not all gains are tax deferred.

Hi All,I'm entertaining the idea of digging out the basement of my fourplex in DC, and maybe even adding another floor (pop up) at the same time.