Better pricing on material?

The last 12 months will give you a trend and tell a story of what's going on.Get a rent roll with delinquency as well.30 day DD is enough time, but that starts only when you get all due diligence materials!

Good contractors don't walk off jobs and they can justify their bid with a written estimate showing cost of materials and labor so you can compare it with any other bid.

They are unique in the fact that the development is completely vertically integrated project in which they do everything from manufacturing the building materials to manage your property.

So yes, you need to set aside enough money to pay future taxes.Taxes are calculated only on your net profit - i.e. after everything is deducted, including labor & materials, holding costs, financing costs and business overhead such as marketing and driving. 

To do this, divide the cost based on the ratio of the fair market value (FMV) of each asset to the total FMV of the entire property at the time of purchase.If you are uncertain about the FMVs of the land and the buildings, you can alternatively allocate the cost based on their assessed values for property tax purposes.Source: IRS Publication 527 (Residential Rental Property)

To qualify as a real estate professional, a taxpayer must meet both of the following criteria:Taxpayers perform more than 50% of services in real property trades or businesses in which they materially participate.

Hey Thomas, seasonality may be a factor but you may just need to switch it up with new marketing material as the old may have been seen before.

Under this rule, if your average stay is seven days or less and you materially participate in managing the property, you can treat it as non-passive income and potentially use tax losses (like depreciation) to offset other income.

Updating the interior is costing me $63,000 for demo, installation, and materials.