Just off the top, I'm thinking ownership percentages, how the company decisions are to be made, what are the members specific rules or duties, tax provisions, and compensation are just a few of the items you'll be encouraged to have in the OA. 

I'd recommend some sort of itemized list from seller or "items as seen in listing pictures" etc so that you don't have any last minute surprises.

I'm I missing any other expenses line items? 

(market rents, age of cap expense items, prop mgmt fees etc).NOT to tell you that Des Moines is the best option for you, as I have no idea of your goals.  

Once you purchase the property, there are various kinds of stuff that you can deduct.Rather than giving you the list, first, let me say that you can deduct expenses that meet these two criteria:Ordinary Course of BusinessNecessary in the course of businessHere is the list of some of the items:1) Mileage: any mileage that is associated with the rental activity.

@Bill Zhou The best answer to this is a 3 step item, as you have 3 issues here to address and NONE of them involve selling. 

On my spreadsheet I have a line item for renovations and a line item for furnishings, then a holding cost depending on how long the renovation and furnishing will take.

@William Collins hi how are you coming along today, we're from Brooklyn ny market is very tough here so we want to explore a new area which there is a demand for rentals and we can get good at least 10 cap deals and it should get good apprised (we're doing the BRRR) so we've looked up a few areas, Putnam Ct looks a nice area we would like to buy a nice amount of properties our question is if rentals is a item there and here a little more info from a insider from that areathanks so much  

He doesn’t keep the place very well, just dirty, but overall he doesn’t give me any trouble other than those items.

Tons of content out there about these items and more.