You can then charge the tenant 50% of the cost. 

My main concern is regarding cost-basis and future capital gains tax when I ultimately sale the property. 

We did the cost seg year one so all the tricky accounting is out of the way.

If anyone currently MTRs in this area, I am curious on how you got started, how you run your operations, and how you furnished your property(own/rent) and what the cost breakdown might be for me to do the same!

If anyone has any experience with land contracts please feel free to add.

Feel free to add more or suggest different ones.

Feel free to reach out if you have questions about the Memphis market. 

A few things to consider when starting out:1) Be sure you have liquidity for the down payment, but also a healthy reserve account, since unexpected costs will come up while owning real estate. 

We don’t feel these are necessary, especially considering that the property already passed inspection when we bought it.We're concerned that we might be getting taken advantage of, and that these costs are inflated or unnecessary.

Feel free to message me!