For a business plan, you'll want to include sections like your business model, market analysis, financial projections, and operational plans.

To determine if the expense should be classified as a capital improvement or a deductible repair, the context of the expense is very important.An example is, if an item of expenditure is part of a general plan of modernization, renovation or rehabilitation to equipment or other business property, it typically must be capitalized even though on its own it would be currently deductible.According to IRS Code, expenses that you must capitalize are those that:Materially increase valueSubstantially prolong useful life (including replacement of deteriorating assets)Adapt the property to a new or different useHowever, you are allowed to deduct expenses and fees for routine maintenance and repairs that help keep the property in efficient operating condition.

I have worked with many lenders that will give you the run around, ask for more items, with no clear cut guidelines. 

They are just now getting around to telling the truth.costco is a great indicator of inflation on grocery items.. 

I’m established in my career and not looking to make RE my full time but I don’t have a ton of capital and I enjoy modeling and underwriting and being hands on with management so the passive/syndication route isn’t an option.

I'm sure I'm missing items, but in a word, yes, this would be useful.  

The model works, and it's all about consistency at the end.

You are the member of the LLC not an s corp or a c corp which owns the LLC - which is more traditional in syndications and other setupsSo that’s the confusing thing…They list as not exempt:1) corporations2) LLCs where one member is a corporationI feel like item 1 would disqualify ALL LLCs (since they are corporations).

Make sure your lease stipulates its a "shared property" and list all the rules to make sure they toe the line, garbage, one vehicle(where parked), noise, no personal items in yard, everything you can think of or choose/whatever.

It's always a plus when you can get your property valuation increased and the tenant pays for the new item, just so long as your downside risk is mitigated, too.Good luck!