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.. 

If your holding plans are shorter - there is less incentive for cost seg.Short story: get a good tax accountant on your team, to guide you in such issues that are critical to your success.

That’s as bogus as college to me (and I have a doctorate).You need the ability to read, think critically, run basic math, and have logical reasoning all at a high school level in order to get into this game and to stay in.I not only have coached others for free (those friends and family I personally know and won’t ruin my reputation) I have given them my ENTIRE system on a silver platter aka access to my agent, lender, plumber, electrician, flooring company, handyman, and even set them up with my very selective property management company.

You will need critical thinking skills as a RE investor.

Originally posted by @Michael Forbes:Hi @Steven Gesis - When I rented a higher end place, I wanted:-A view with outdoor space (patio, balcony, etc)Done - this has a balcony with lakeviews-Nice lobby and entrance - I could control the look of my home but not the common area so having this updated and clean meant a lot to me.Good point - plan on making the lobby and entrance super nice -Secure parking/garages - In particular, I wanted at least one garage stall.No Garage at this property, but I am also considering the property next door it is 88 units needs lots of help - but has a 2 level garage - figured if I got both I can offer residents the option at either property to use the garage they are literally next door to one another-On-site (or even better - in unit) laundryWill not be able to do the in-unit luandry (in this case it was space and cost prohobitive - but this ammenity was high on our list, it will have to be a common laundry on-site  Thanks for the feedback - how about the location was that critical to you, or did the ammenity and price point outweigh your location choice? 

I would add:1) Mindset: People new to real estate often still have co-workers who don't invest around them and therefore struggle to develop the investor mindset which is critical to taking steps forward.2) Distrust: As stated here, there are so many different angles, approaches, and money lost trying to pick the right one.

Property: Purchase Price: $700,000Down Payment: $140,000Closing Cost: $15,000Rehab Cost Est: $100,0006 Month Reno Holding Cost: $25,000_______________________________________My all in cash for purchase / rehab: $255,000After rehab Rental:  $4500 monthly Rental from both apartmentsNOI: $45,175 Monthly Cash Flow: $1,050Annual Cash Flow: $12,115Refi: New Appraisal: $850,000Equity in the house $290,00080% LTV of equity= $232,000Refi closing: $15,000Total Cash Pull out: $217,000End Result: -After 1yr, total cash put into the project: $38,000-Monthly Cash flow from both tenants $500-Own a property will should continue to appreciateAny suggestion, advice, pointers, criticism is welcomed.