Over  a hold period as the asset gets older the operating costs usually start going up more.A seller owning a brand new built asset years 1 to 10 and claiming XX costs might be true but you owning for the next years 11 to 20 etc. the cost profile of the property will be way different as many items will reach the end of their life expectancy and need replacement or multiple repairs to keep functioning optimally.Even on larger multifamily 50% is common for total expenses and if landlord pays utility it can even be more like 60% operating costs.

One of though items to consider forming some type of corporation or a LLC.

A contractor just needs to check off a list of updates, they don't need to worry about the life span of those updates or how likely different items are to need frequent repair or maintenance.

I have reading a lot of items so far.

In your mind a property is purchased (as is) but, if it ends up in court then you will find (here in Washington) that "AS IS" is a term used for a personal item or something within the property like ( dishwasher or broken windows or carpets and most of the time appliances) are "AS IS".

We had a certain look that we wanted for this house and I calculated every single item and already did my homework on flooring and painting beforehand.

You can set up an AR account with them and organize your frequently used items in saved lists.

There are four of us working on the project and often two people will buy the hinges we need, or the trim paint...or no one buys it because we thought someone else was.Does anyone know of a good app that would allow us to communicate with each other, regarding current progress, things that still need to be completed or items needed to complete a task?

You missed a lot of expense items but primarily the value of your equity. $315,000 equity, opportunity value 10%, Additional monthly cost $2625/month.With all that equity tied up in the property you have negative cash flow of $2820/year before any other expense deductions.

If the tenant fails to do one of these required things, and the tenant’s failure has either substantially caused an unliveable condition to occur or has substantially interfered with the landlord’s ability to repair the condition, the landlord does not have to repair the condition.97 However, a tenant cannot withhold rent or sue the landlord for violating the implied warranty of habitability if the tenant has failed to meet these requirements.98Responsibility for other kinds of repairs As for less serious repairs, the rental agreement or lease may require either the tenant or the landlord to fix a particular item.