To add more to that, with real estate construction, one rehab being the exact same size as another may need a new roof and HVAC system along with all the other items and the second one does not.

Basically you are better off leaving units empty than rent to someone that is not at least a decent tenant.We use quickbooks for managing the financials.For tenant maintenance items I am old school and just use a notes to-do app that is shared with my lead handyman (who is leaving me in December: Ugh!).

If you have at least a handful of units, things start to even out because when one unit is an issue the rest carry all the expense.

Less about (I calculated) $15K for carrying costs, closing, assessments, etc., that's where I got $35K.Assuming $200K all in, same ARV... same 75% LTV again gets us $225K(cash-out). $225K - $200K = $25K, which is again, profit.

@Samantha GoochBelow are some of the main differences between a CPA and EACPA1) Require completion of a college degree with certain classes in accounting, tax, audit, etc2) Require passing 4 exams on Audit, Tax, Law, Business3) Required continued education4) Can practice in Tax, Assurance or Advisory5) Eligible to represent you infront of the IRSEA1) passing 3 exams dedicated to tax2) Required continue education3) practice in Tax4) Eligible to represent you infront of the IRSThe CPA designation is more prestigious because it is much more difficult to obtain.The Tax portion of the CPA exam is more difficult than the 3 EA exams.The other item is that a college degree is not required(Just that you are atleast 18 years of age).With that said, you can have good CPA or bad CPA's.You can have good EA's and bad EA's.Also, please be careful on this webforum, there are many 'tax professionals' that are neither a CPA or an EA.Best of luck

An example of 1 item in a capex budget.

And, of course, there wouldn't be the knowledge or investment without the worker in the first place, so people are always wanting to assign value to these less calculable items (like you, the investor, wants to assign value to the less calculable risks involved).At some point w complicating factors, and without degrees in actuarial science, most of us throw up our hands and decide it's easier to just split 50-50, 60-40, or whatever, assuming both parties are educated and comfortable with the risks and values over the life of the investment.

Then it would fall under an itemized deductions.

The first three properties were all setup by the PM and I felt sometimes there were unnecessary items at the same time some missing necessary items.  

Hello, I'm 20 years old bringing in a little under $10,000 a month from my full time job (which carry's a very busy schedule) I am wanting to buy my first rental property.