I had assumed I could just give him the P&L /Balance Sheet and that would be good but I keep getting requests for a breakdown for each property...I understand the need to depreciate the purchase $$ and the part of the the rehab $$ that is Capital Expense, but I'm not getting why I can't expense, for instance, floor refinishing (that occurred at both places) as a single expense.

There are some things you can potentialyl break out so make sure you have separate costs for materials/labor for:Land improvements, paint, flooring, appliances, blinds- there are few other more specific as wellA good REI Tax Strategist can help ensure you get the most benefit from your renovation

Hi, I'm trying to pull up sticky tiles that were installed over hardwood floors.

On a larger park, I would recommend a formal cost segregation study for this, but an 8 unit park is too small for that to make sense, so you can also assign a value in the bill of sale to include:Landscaping shrubbery & trees: 35 mature trees approx. 20’ tall each, pool equipment, roads: XXX square yards of asphalt paving, sidewalk and curbing, electrical pedestals, concrete pads, underground utilities for electric, sewer or septic, pool, clubhouse, etc. 

Here are a couple takeaways I have- I wasn't able to see the condition of the walls, there was an ugly stamping that required all the walls to be re-drywalled- There was a dip in the floor that I could not see, this required to jack up the floor- The bedrooms were really small, the pictures made them appear larger in size.Overall, would I do it again, probably not.

Best way - Jackhammer it out and replace it, this time with adequate rebar and high pressure concrete.....Cheaper way - fill the cracks and paint it with deck paintCompromise - Lay tile on top (if you feel it's done moving)

In addition to spending tourist dollars, I pay folks to mow lawns, clean yards, clean up the houses on turnover, shovel snow off sidewalks, paint, replace flooring, etc.  

Hi Canadian investors,Just purchase a property in Niagara Falls in Canada and I’m looking for a contractor who can renovate the kitchen and washroom in the main floor and also finish ,legalize the basementyour help would be much appreciated.Thank youHabib 

@Peter MorganI am confused - you have a concrete balcony? 

However, because of the spectacular views I could get from this second floor I am still trying to figure out best way to put second story ADU.Has anyone added second story on top of the existing house?