It can make assumptions (like flat 50% operating expenses, based on rent), or you can itemize each cost.

It’s realky that simple.

@Peter M.I did some simple items like light switches and outlets.

You could form a Joint Venture Specific LLC and have a good real estate attorney draft an iron-clad Operating Agreement to minimize your risks, limit liability, and protect your personal assets all at once.

Please click on the links, give them a read, and share your thoughts in the comments.First is a post that I feel will help not get overwhelmed with the amount of info that is here on BP:https://www.biggerpockets.com/blogs/5868/52761-the-simple-guide-to-getting-started-on-bp The second is a post that will help get you focused with your real estate investing goals:https://www.biggerpockets.com/blogs/5868/52743-im-new-to-bp-any-advice-would-be-appriciatedThe last one is a post that will help you choose an “investor friendly” real estate agent.

Once DD has stared and I can flesh out the operational details like what will CapEx look like month 15 when I have to replace XXXX and this county adjusts taxes biennially so in month 21 I can expect a 10% increase.

Hey @Stephen Lee , we hired a virtual assistant team to run our operations from acquisition to disposition.

Super simple.

I have read Rich Dad Poor Dad and have a great vision of what I want to build...a large REI firm and operating my own rentals.

This makes things super simple.