I bought a house in my local area with a decent sized separated garage.

I could probably ask them to separate out what the windows cost for installation but my guess is it is definitely less than $2.5k.I don't see why I would want to include the cost of the rot repair in the capitalized improvement since it should not be one.

The house is a triplex and has been used as such ever since the owner bought it; it has 3 separate electric meters, mailboxes, etc.

You don't wait until next payment comes due, you serve it on the first day rent is late.The hot water heater is a separate issue entirely, and refusing to provide hot water make the unit uninhabitable in most jurisdictions that I know of (probably all of them).

Big Sky is composed of three small villages roughly separated by 9 miles from the Canyon to the Mountain Village.

You should bid what your analysis suggests is a great price for the property, keeping in mind that many of the multifamily properties in the Greater Philly area are converted older homes rather than purpose built multis, so often the utilities are co-mingled among units (water, heat, electric, gas etc), meaning you either would want to convert/separate them so tenants can pay their own, or ratio bill (which adds mores item to track and manage)

"Separate books and records are maintained to reflect income and expenses for each rental real estate enterprise.""250 or more hours of rental services are performed annually with respect to the rental enterprise.

If you are not living in any of the units, some municipalities require inspections to issue a separate CO for the tenants living in the units. 

When purchasing land within a Self Directed IRA would you recommend that I set up a separate registered LLC entity that will be the owner of the LLC?

However, it also points out that that is a separate (or additional) move from/to slashing the lending rate.