Additionally, there’s always a risk that any pet-related damages could be hidden under furniture or otherwise concealed, potentially leaving us to cover the costs if the security deposit is fully depleted by other expenses (e.g., damages or unpaid rent).

Additionally, the study should contain 13 principal elements.WHAT ARE THE ELEMENTS INCLUDED IN A COST SEGREGATION STUDY REPORT?

Here are the numbers:IncomeTotalPartner ContributionsManaging Partners Debt$0.00Partners Deposits$987,459.99Total Contributions$987,459.99Operating IncomeAirbnb Income$50,186.50Square Income (Vehicles or add-ons)$6,741.04Total Operating Income$56,927.54Total Income$1,044,387.53ExpensesPurchase of propertyCost of House-680,000.00Closing Costs-$26,744.44Total Cost of Purchase-706,744.44Set Up ExpensesHouse Improvements & Care taker home addition-116017.03Adding Tiny House-52130.83Furnishings-68403.65Vehicles-43150Set Up Costs and Advertising-2339.53Total Cost of Set Up-282,041.04Operating expensesCare Takers-14535.9Additional Cleaners-1505Cleaning Supplies-2670House Supplies-1340Landscaping-4230.66Utilities (Power & Water)-8204Internet-315Pest control/fumigacion -120Pool cleaning/maintenance-2220Vehicle Gas-552.3Vehicle Maintenance and Repairs-6625.01Welcome Food for Guests-115Property Repairs-4999.64Bank Fees-1208.06Accounting Fees-1085Insurance-955.74Other Expenses-1071.2Total Operating Costs -$51,752.51Total Expenses-$1,040,537.99Net Income$3,849.54Net Operating Income$5,175.03Now 5k for an investment of 970k is not a good investment.  

Additionally, most of the costs to make an asset ready for it's intended business use are capitalized and part of the cost of the asset. 

Even a brief consultation can clarify your legal standing and provide additional strategies tailored to Raleigh’s market.Have you considered asking other local landlords how they’ve handled early lease terminations?

feel free to @ me for any additional info.

On the positive side, it seems like you have a good potential BRRRR that you can use to purchase additional properties.

As JD said, the tenant must list the landlord as "additional interest" on the policy.

This will provide you experience, a story to tell, and the credibility needed for adding additional clients.I'm happy to discuss more.

Feel free to ask any questions here.In addition to a "Facebook community", how about a Slack channel?