If you buy in a location where prices and rents are increasing below the inflation rate, your only option will be to decrease your standard of living over time.

@Anjali L.Ask for international passport issued by her country.

I'm all about standardization and a consistent experience, so everything goes.

I'm sure the OP understands that the standard long depreciation schedule applies to the purchase of the building.I believe the only point the OP was trying to make is that her CPA informed her that you don't need to hire an expensive out-side party to perform a cost seg study to take advantage of accelerated depreciation.

@Milton Carrillo changing the building from a two family to a three family would be considered a “change of use” which would trigger new construction standards, which are sprinklers.

I’ve only had about 20 mortgages but I’ve never had a ppp and I’ve never gotten a better deal from  commercial or bundle loans than were offered with a standard investment property loan.

But for running this like a business and internal planning, the picture painted is very different if you show no tax expense for 11 months and then 1 huge hit in one month

Therefore I would have more cash but less access to equity and also wouldn't have my portion of the rental income.Locally, 1bed/1baths rent for $1800-$2200, 3bed 1 bath for $2500-3000 these rates are pretty standard right now based on my comps and what I know about the area.The house also has a 3rd mother-in-law unit that I would plan to live in while renting out the other two units.If sold it would be unlikely that I would be able to buy in this neighborhood or close neighborhoods for a while.

@Steve Camp, we have used Resman and Realpage.From your description, it sounds like more of a process issue.Regardless of which PM/accounting software you use, it is just a tool that depends on the underlying business process.Either software should be able to use a standard or customized CoA (Chart of Accounts).How many units are you trying to manage?

I assume they have to have some minimum standards around real estate to prevent obvious tax theft.