. §§ 250.512(c))Lease, Rent & Fees:When Rent Is Due: No StatuteRent Increase Notice: No StatuteRent Grace Period: No StatuteLate Fees: No StatutePrepaid Rent: No StatuteReturned Check Fees: Allowed, but it shall not exceed $50 unless the landlord is charged fees in excess of $50 by financial institutions, upon which the landlord can charge the actual amount of the fees.

I know with my last one, with all the prorating for age, like 2 years on approx 7 year carpet life, only being able to charge for cleaning fees in excess of normal wear and tear, their portion only came to the security deposit plus $200 or so, so my management just billed them the difference and moved on.  

Should I focus on building my equity in the property or save my excess money for capital?

I'm not trying to be a slum lord but I am trying to buy properties that need a little bit of work to get up and running, but to be mandated by the city to put an additional $10-15K into repairs for a $60K house inside of a year of owning it seems a bit excessive.  

Yes, looking over the laws for KS, it just mentions some items that fall under ordinary wear and tear and excessive damage and filth.

They have a larger appetite for small multifamily than the larger banks.  

When it is time to distribute money from the excess cash flow, it works like this:$400 to distribute$200 goes to your partner$200 is allocated as having gone to you (for tax purposes) but the check is actually written to your partner. 

So if you take in $500 a month in excess of the expenses of the lease, and the reserve account you should be maintaining, then you each get your percentage of that $500 in profits a month, but at the end, when you sell, he still gets his full $10,000 back and then you split the balance based on your percentages.

Ridiculous... 200k is excessive unless it includes the mortgage payoff.I closed on a MFU fmv @ $775k and closing costs sans mortgage payoff was only 79k.

It sounds like these recommendations are excessive.