I'm cautious by nature so I will still do a full inspection of the property, but my question is, aside from the attorneys fees and realtor's commisssion of 6% is there any other costs I should expect to see?

Naturally I want the extra $16,667 in depreciation over 27.5 years.

Naturally expansion will come with time and the right opportunity, but since we are just getting started, we don't want to make any mistakes.

Hi everyone, can anyone shed some light on when different types of insurance are appropriate?

Doors and door frames Some windows Ceiling in basement Kitchen and bathroom floors (new tiles or laminate) LOTS of paint, indoor and outdoor All new kitchen appliances Some drywall repairs but nothing extensive Bathroom tile, shower, faucets, vanity All new light fixtures Some vent repairs and new vent covers.

If you sell for payments you will be able to sell to happy tenant-buyers willing to pay you money monthly to own a home that may need heavy cosmetic and light structural repair work.

I own a few parks in Texas so maybe I can shed some light onto the situation.1) You could be liable for the back amounts owed, depending on how all of the legal papers were filed.2) No.

All the better reason to only work with an accredited investor who is financially sophisticated, you might catch flak for losing their money but they will be seen in a much different light than granny.

Seems light for the work you specified.

@Barima Opong-Owusu We usually run maintenance costs at 10% and in older buildings they're often higher so that expense item looks a little light.