Regardless of the rent, I still need to account for a low end kitchen, bathrooms, carpet / flooring, paint, as well as some amount for shared items like tuckpointing and the roof.

If you can justify the cash flow after accounting for PITI, CAP X, maintenance, management, and 5-10% vacancy, then you should be good?

X & Y can be adjusted slightly to account for things such as tenant specific build-out etc. 

.#9 check and see if the water and electric provider have some kind of scam lockdown like a credit freeze that would lock the account from being turned on without your permission.Sorry this has happened to you. 

Hi BP,I am currently looking for a real estate accountant.

The numbers you see in the deal deck/initial projections take these fees in to account when estimating investor returns.

If you have equity, your extra cash flow is simply your own equity coming back into your bank account, and not truly new cash flow.

An annual election is not a change in method of accounting.

Always run it by the accountant first to make sure you aren’t leaving anything on the table.

Yes, the fact that they recently had to adopt new rules for investors (investors can get no more than 5% of any single property per account, frex) and that even with these rules in place you have to act fast to get in on new properties tells me that they have a pretty popular model.