It’s hard to believe someone would try to get a million or even billion dollar loan knowing they can’t float it, but one just has to look back at the housing bubble and all them subprime borrowers who bororrowed money without a 2nd thought the minute someone removed a few rules.

I removed all of the dead growth.

My agent sent over an addendum to extend the closing since I'm using a rehab loan and I also had added that all hazardous materials must be removed prior to closing.

General maintenance (fixing broken things, snow removal, gardening and the like) is probably another 10 to 15%. 

If 2 raccoons enter a rental property and have to be removed immediately, Who's responsibility is it for payment "tenant or landlord"?

I have read smoke clings to the inside hvac coils so they may need to be cleaned to remove lingering odor...which is expensive, but I had a house and the 40 year owner smoked until her death and we didn't, we just put a gel odor absorber in the return air duct.

Set up & remove For Rent signs.12.

How about  accounting, legal, lease up fees, snow removal, Pest management, or CapEx reserves?  

But instead would run at least 2 analyses to see how the numbers play:One with the costs included in expenses for the yearAnother with those costs spread out over a period of yearsAnd One with those cost removed and then added back in after the initial analysis.

Reason being you only have 2 units over which to spread all the fixed costs, like lawn care, snow removal, etc.