It’s a 22 unit complex all brand new but no pool or major amenities so HOA fees are very low, about $350 which includes insurance.

You might have say 10 people planning to stay there, and they just pooled their money together, but put it under the one person with a clean background?     

This question could be for anyone.. realtors, appraisers or investors.It seems like it’d be a more difficult and subjective adjustment than let’s say.. a pool, because of the variability in quality of furniture, etc.New furniture is ideal, but I’ve seen properties with USED furniture also selling for more than their unfurnished comps.

Tampa and FL are great as a year round sunny place and we dont have state tax.

Real property consists of land, buildings or other inherently permanent structures.Examples of Personal Property (contained in or attached to a structure/building)Interior LandscapingNeon or Other SignsDisplay Racks, Shelves or CabinetsWall CoveringsWindow TreatmentsCertain Air-conditioning EquipmentDecorative and Specific Business Activity Light FixturesCarpetingDecorative Trim & MillworkMachinery, Generators & Kitchen EquipmentAccordion Doors and PartitionsExamples of Real PropertyLand (non-depreciable)Buildings (27.5 or 39 year depreciation)Exterior Landscaping (15 year depreciation)Paved Parking Areas (15 year depreciation)Swimming Pools (15 year depreciation)Fences (15 year depreciation)Bridges (15 year depreciation)Side-walks (15 year depreciation)Docks (15 year depreciation)After the tax reform, the structural value of a building is depreciated over 27.5 to 39 years and the tangible portion of a building is allowed to be expensed immediately in the year the assets were placed into service by the business.

That is enough water to fill a decent size swimming pool. 

Also, it is not just the jobs the tenant pool has today.

(weird you aren’t being billed monthly) times 200 gallons would be 18,000 gallons, about the same as a swimming pool.

I took for granted that it would be a mostly passive position - and now the pressures are mounting.The HOA is managed by a property manager (10+ years now) who recently failed to secure a loan (missed a deadline) that would have (1) paid off substantial outstanding fees to a vendor, and (2) helped fund a number of moderately important and urgent community projects (pool maintenance, and pine-straw).- Ok so just use some reserves?

My holding cost (mortgage, utilities, pool service, lawn) was about $1500/month, so $2500 gave me plenty of cash flow.