I'm in contract on a $400K house upstate NY - was prepared to spend $50K on cosmetic changes (painting,  new floors, new kitchen, new bathrooms etc) but after getting the inspection report today here's all the issues I'm dealing with and it's not pretty (see below) How should I move forward?

Also, due to KC mayor creating this ordinance, which to highlight and summarize includes:bans discrimination against tenants based solely on:"-Source of income from an occupation, including gig work or paying rent in cash-Use of public programs like Section 8 Housing Choice Vouchers, disability checks, or social security-Poor credit score-Prior evictions and alleged damages older than 12 months (less than 12 months can be a basis for denial)-Prior convictions or arrests (sexual and violent crimes are excepted, a landlord can still deny based on these convictions)-The ordinance also requires the city to proactively scan for rental ads using discriminatory language like “no Section 8” or “no past evictions”.

In particular, your schedule E where you report income and expenses.

When you rent, maintenance/cap ex, insurance, pm, vacancy, misc are included in the rent. 

Pricing - most bookkeepers I know are transitioning to flat rate pricing that includes software costs, based on the complication/volume of your business(es).

included my final terms from my lender I had been working with the last few months.

First week of setup included laying down gravel for additional parking, making living room into 2 bedrooms, converting large pantry/laundry into a bedroom, and splitting primary bedroom into 2 rooms.

*The taxpayer maintains contemporaneous records, including time reports, logs, or similar documents, regarding the following: hours of all services performed; description of all services performed; dates on which such services were performed; and who performed the services.

They list these rentals on several websites including a major one in Branson.

But they will require you to file an annual report.