Your total project cost is only ~ $143k. 3c) Your interest rate is probably going to be in the low to mid 7s, at least4) All states/areas are different, but I usually see with my CFO clients that their property taxes are higher than their insurance, with taxes often 1.5x higher than insurance.5) Lastly, I saw PM fee of 8%, are you paying someone else to manage this?

In my opinion, since the tax code is open to interpretation, I interpret as much of my costs as repairs unless something obviously falls into the definition of asset.

Hello, Can anyone recommend a good PPL software that doesnt cost more than $1k/month and is similar to Ispeedtolead or leadzolo? 

The biggest challenge is to find one to purchase at a reasonable cost. 

We have elected not to count any repairs or costs during 2022-2023 due to to it not being rented at all, not even calling it a second home.    

Same property listed water bill paid by landlord so how much does it cost to put individual meters for each property so cost can be moved to tenants? 

Since rental losses are typically passive, the best way to offset W-2 income is through Real Estate Professional Status (REPS) (750+ hours) or Short-Term Rentals (STRs) (100+ hours and more time than anyone else managing the property), which allow real estate losses, including depreciation, to offset active income.A cost segregation study accelerates depreciation, generating large upfront deductions.

Now, there is no longer a need to seek free advice from busy tax professionals.

My biggest mistakes that have cost me dearly have all been contractor related, so my advice would be to vet your contractors as much as possible. 

There is no wrong answer...just the answer that gets you to the next question.