I am not giving any tax advice.Luckily, I think we have gotten to critical mass, so we can start moving our bookkeeping to our CPA firm.One note on Taxes and this project.

Sometimes company reps come in to bad mouth other posters for voicing criticisms which is not helpful and just reinforces the bad report.

My only comment would be that we did not intend to sacrifice critical functional needs the property had in favor of using more funds in the cosmetic areas.  

Dynamic pricing is critical to achieving maximum revenues.  

The ground rent, rent escalation and length of the ground lease are the critical parts of this deal.

I know this post is going to draw lots of hatred from real estate agents that is why I never want to start a conversion to criticize the system until I encounter such extreme case this time.On a side note, I googled the owner and found out that he is a 69 year old guy.

Financials are critical and many Mom & Pops are not the best bookkeepers.  

It is a document designed to give third party critical information on the relationship between your landlord and you as a tenant.

Do you want her as a team member or a critic?

this PDX market built 8 to 10 thousand new door homes a year from early 90s to 2007.. 2008  700 permits total  next year about 1500 next year 3k and so on.. so by the time the banks started doing spec lending here about 4 years ago and demand never diminished we found ourselves with a critical housing shortage and all the big national builders moved in because they can self fund.. us little guys were stuck.. with lack of market liquidity.. so anyway I have gotten about 100 homes built in the last 5 years personally and all have made profit not as good as Charleston but still a profit and much easier than flix and flip... which I used to do a ton of but don't do much or any anymore the new builds are far more predictable and I have NO where near the competition from smaller investors.. that competition is squarely in the fix and flip space.. and is brutal in this area.what this also did when new construction halted and once things stabilized coming out of 2012 or so. rents went up 50 to 100% so landlords we held through the down turn PDX even though it was a neutral cash flow market or typical west coast low cap market some of those guys have killed it..