These items are enough to make an entire deal go upside down.

@Jacob MendrinThe other thing to keep in mind is you are required within 21 days of the end of Tenancy to provide an itemized list of deductions.

Also, depreciation on a rental is always reported as a passive item for rental activity unless you can convert passive rental into a non-passive by qualifying are a real estate professional. 

Critical items may be totally different- regulations, taxes, jargon, lending rates, etc etc. 

In a S-corp, you have to allocate income/loss items and distribution based on ownership %. 

Determining the basis, which may include improvements, among other items, will impact your depreciation expense for years, so it's important to get right the first time.Hope this helps!

I didn't read all of this.Next time in a contract have a contingency in the purchase and sale that ALL of the items listed have to be received for due diligence period to start.This way you generally know right away if the seller is hiding stuff.

Investment expenses that are included as a miscellaneous itemized deduction on Schedule A (Form 1040) are allowable deductions after applying the 2% limit that applies to miscellaneous itemized deductions.

Another thing that may help is if you can place a price per door and/or itemize the asking price per home.

Not only that, but it has a feature called a Fixed Asset Items List which you can CUSTOMIZE to tell you anything you want to know about this property.You can design it to give you the Land Description, the year it was built, Square Feet.