How long does your property manager take to complete inspections and repairs after a tenant has moved out? 

But, usually, the repairs that can be deducted have higher tax benefit than from the deduction of the basis depreciation. 

I know there are something that I need to consider such as emergency repairs, vacancies, and etc.

From my understanding, they will cover 75% of purchase price (25% down payment from buyer) and 75% of rehab costs (up to 75% ARV as you mention), so it would require a larger cash reserve to cover those repairs, which is why I decided to go with another HML for the time being.Looks great though!

Hopefully, you already asked to see the following items:- lease agreements (look for: special maintenance clauses and what items the tenant is responsible for repairing if any, late fee dues and dates, security and extra deposits, what the owner pays vs what the tenant pays for utilities, landscaping, pest control, etc)- payment ledger- notices given (if any)- copies of annual inspection reports- Estoppel Certificates (show rent, amount of security deposit) if you do not have an agreementYou will need the current property management company to also provide you with current tenant contact information, keys to the unit, and any paperwork listed above.

Before we finalized the offer on the properties, we ran out a 3 year capital expense plan to account for improving the properties that need it, either with deferred repairs or value add improvements.

I want to learn some skills such as how to find deals in my market, estimate repair costs accurately, attract tenants, etc. 

We have had a couple situations with repairs that we believed were the tenant's fault, but ultimately we took responsibility for paying. 

Luckily I had a patient seller...If you are able to find a property that need less than $35k in repairs, the streamlined 203(k) is a good option and will have more lenders willing to work with you.

For example, the previous homeowner’s seller disclosure checked yes there has been “Previous Roof Repairs” and “Previous treatment for termites or WDI”.