Sometimes you gotta keep your foot on the gas but patience is a virtue.

Due to the water in the cellar is isobvious a proper sump pump, pit and drain is needed.Basement 36 The cellar has a lot of items and rubbish that needs to be removed.The gas water heater is no longer used and is disconnected from waterand electricity.

(rather my wife’s wrath came into my life like it often does with a threat to my life if we weren’t on a international flight to relax before Christmas....happy wife = happy life) So all of those folks out there I recommend also having your “spending money” set aside to enjoy life while we still have it and at the same time not letting off the gas with those aggressive REI goals.

Because there is gas in the house, recommend they be placed in hallways outside sleeping areas and by the gas furnace and water heater.

Everything is in walking distance (grocery stores, coffee shops, fast food, 7-11, Blimpie, CVS, Walgreens, Tire shops, Car mechanics, gas stations, small restaurants). 

So to you tax pros, how about this situation:CA is the location of sampleHusband and wife own/share the S Corp 50%/50%.Only one spouse is licensed, but licensed also holds a full time job elsewhere outside of real estate.All commissions are paid to the S Corp and costs of doing business (photography, marketing, office, legal, travel, auto, gas, accounting, etc) are paid from the company account.In such circumstances, are you all saying this is or is not appropriate from an IRS, legal, and tax standpoint?

I'll put one on a reproducible place, usually the electric meter or the gas meter and give that to the service-person (or tenant if they forget their key) when needed. 

Apparently there are two gas meters, which I have yet to figure out why so now I have to hire a licensed plumber to trace the lines.

But there are as many religious orgs in the US as there are gas stations!

Thanks Fully occupied 24 unitsGross rental income $213,613Tax $25kInsurance $6,252Water $12kSewer $17kComm. bldg & common area Gas/electric $13,500Landscape/snow removal $5kProperty management (8%) $17,089Trash removal $2,200Vacancy (10%) $16,800Repairs ($800/unit) $19,200___________________________Total expenses $134,041NOI $79,572Purchase price 1,150,00025% down Debt 5% 25yr am 7 year ARM $60,504Cash flow $19,068Cash to close $300kCoC 6.3%Cap rate 6.9%