He advised me to file based on the accrual method? 

Just try to extract what value you can, then focus on scaling your own business based on your own personal circumstances... one deal at a time.

Hi @Brooklyn Hunt, I'm based in Southern California, but I have started my out-of-state real estate journey in Indianapolis.

The lender does IMO… Nobody declares bankruptcy if they own properties with cash unless they make dumb mistakes and cross collateralize.The cash investors might loose money but they won’t be bankrupt.Also, only when you build a base of 3-4 properties with cash, and fully understand the true income of your portfolio after consecutive years of performance.

If professionally done it will look better and be nearly just as durable as LVP (and likely cost less.)If using an oil based polyurethane coating (do multiple coats), the floor can be buffed and recoated as needed opposed to a LVP where you can't really do any maintenance and in the even of a repair often times you're stuck taking up all or most of the interlocking floor which is a huge hassle.I love LVP in the right situations and almost always use it in a kitchen or bathroom remodel, but have found it cost effective both on the front end and for maintenance reasons to save the hardwood when possible.

Keep updating it as your knowledge base grows.  

In fact, the whole point of real estate investing and generating returns should be to make investments based on an advantage (knowing a good deal in the market, etc.) - if there was perfect information easily available to everyone - no individual mom and pop investor would ever have a chance at real estate investing returns at all...

If you have good credit above 740 and have 25%-30% to put down it’s really not a difficult loan process. 8 Units typically will offer a 1.25% DSCR ratio which is required in most cases but the approval is going to be based on the rents.

Based on my records, we did $11,550 in depreciable improvements.

@Jason Allen, Great post, we have a few real estate / Construction business here in Columbus and have been wondering what the best strategy / planning should be for the next 3,5,10,20 years based on all this investment and growth.