However, if the appraisal is conducted as part of the property acquisition process, it's likely considered part of the property's basis.It's important to keep detailed records of these expenses and consult with a tax professional to ensure proper treatment on your tax return.

It cost me more for a down payment, but I went with the house because the costs at the end of the day were going to be the same and either the tenant paid the condo fees or a slightly larger mortgage.

The end result is 2 units added to your portfolio however you are now also exposed to the appreciation of the rental property at a 1 to 5 leverage.Of course that is assuming the property can also cash flow and service the debt of the new mortgage. 

I work in property management so many of the people on my referral list are brokers, mortgage loan officers, and leasing agents. 

I have an opportunity to take over mortgage payments from a seller for their remaining mortgage where I would be on title, but not the loan.

I currently have a mortgage and HELOC. as well as 70K debt. 

I try to have my rentals be weed free (properly remove any weeds), as I have seen some CRAZY weed yards, and simple/clean as possible. 

Of course, that means that your property will need to be prepared properly for this, which means "no carpet". 

For newly constructed, purchased or renovated properties and also retroactive generally over the last 10 years, building components are properly classified into individual units of property and accurate recovery periods for computing depreciation deductions.

Hire a property manager that knows how to properly market the property.