Also, if you are doing tear downs and or large additions n higher end markets, you can’t use the same template each time for everything, but you can for some items (paint colors for instance).It is efficient to have name, description, item numbers, etc on a spreadsheet of items you typically buy which makes ordering materials quick and easy.

This is a mom & pop apartment so there are no financials just rents and the expenses that were included was insurance, utility and that's it.I am trying to build a pro-forma with the info that I do have.

The low money down plus the opportunity to utilize a 203 streamline left me a lot more room to invest later down the road because I did not have to put down more money.

.- More than half of the personal services you performed in all trades or businesses during the tax year were performed in real property trades or businesses in which you materially participated.- You performed more than 750 hours of services during the tax year in real property trades or businesses in which you materially participated.Don’t count personal services you performed as an employee in real property trades or businesses unless you were a 5% owner of your employer.

I'd be interested in your thoughts about this: -Listing price $125k (comps show past solds are between $100k - $115k) -2 units: each unit 3 bed/3 bath ($800 + $850: total rent is $1650/month) Both tenants want to stay-Taxes are between $1750-$1800/year-Home Insurance: getting quotes between $1100/yr - $2000/yr-Good school area: Great schools show elementary/middle/high are between 7-9-in HOA: HOA fees are $40/month - go towards a community pool- property built in 2010- property management at 10% (I debated managing myself but am 1 hour away) -tenants pay all utilities-was part of a huge development that didn't get all developed, there are lots of vacant lots between propertiesMy goal is to get at least $500/month in net cash flow after all expenses are paid at and least 15% cash on cash return. 

Hello,I am planning on purchasing my first out of state turnkey in the near future and utilize a property management firm and realized that I have quite a few questions regarding best practices.  

I live near Wausau and utilize all of these and then some.

I'm in the early learning phase and have been taking in lots of really great material. 

Upper main roof first half replaced 8 years ago, second half replaced last year, and lower roof was replaced last month.4 Separate Crown Aruba Gas Boilers, regularly serviced and approximately 20 years old. 4 Separate Gas hot water heater (ages vary)Washer Dryer hookups available in basement for coin laundry for additional incomeExterior painted two years agoShingle sidingProperty just passed state inspectionReplacement energy efficient windowsPurchase Price: $210kAppraised Value: $285kProperty Type: Quadplex/Turnkey tenants in placeArea: BUnits: 1-3BR, 3-1BRRental Income: $3365 Per Month / $40,380 per year (rents can be raised 5% upon lease renewals)Utilities: Separately metered, each tenant pays their own gas and electricHouse Utilities: Common area utilities are about $20.00 per monthWater/Sewer: Landlord pays $1500 per yearProperty Taxes: $7855 per yearInsurance: $2500 per yearLandscaping/Snow removal: $1221.00Vacancy: ???

If utilities are individually metered, if there's deferred maintenance, etc. all of the way down to what you think it will cost for quarterly pest control.