Feel free to email me directly and we can discuss your parents situation in more detail before advising you on how to proceed.

This way, I don't touch the original funds at all, and I can't touch the payback funds until all debt payments associated with it have been paid.This is a proactive, risk control.Now this is just a 30,000 ft view of how I do it, details and other aspects of this system not mentioned here, but this overview of it should give you at least an idea of how you can handle it at your end....and what @Jay Hinrichs just wrote

In this day and age, central AC is considered a commodity item. 

In November 2017 we purchased a 1910 duplex in Norwich CT. It was last renovated in the 70s (at least if the laminated cabinets are any indication). We are close to being able to rent out the top floor (disabled step ...

Miscellaneous other items (i.e. loose faucets, some outlets not working, sliding back door jammed, etc)The seller offered us a $5k credit, however we think it should be much higher (around 10K).

The other important item that I would suggest is building a good team around you.

Details please?

Brian,I don't use a software, but basically you would show it as a tenant recapture income that is going to match the common area expense (or almost if there are some items being pro-rated over time).Lauren

It's a little too detailed to get into here, but the reason is clearly written about in the Vancouver real estate mags if you are interested.

@Dan Handford Under the new tax law can't you use bonus depreciation on all of the items that have a depreciation life less than 15 years?