What should I include in a lease to ensure the work would be done timely and that when the work is done what the new rent is.

@Adrian Ruiz this is something new this year written by the resident BP Queen of RE taxes herself @Natalie Kolodijhttps://www.kolotax.com/blog/199arentalsYou should consider working with a CPA to ensure maximum tax efficiency and accuracy with your financials. 

Check your state DMV for each unit.Check with county to ensure the park has only the number of units it is licenced to have.

If you do find a deal worth pursuing, I'd consult with a CPA or compliance agent and ensure they'd perform without the incentives in case they were to go away. 

So how does the IRS ensure depreciation recapture is collected upon a sale?

Alternatively, you could also work with a HML, they are more expensive but do give you an extra set of experienced eyes looking at the project and someone controlling the draws to ensure work is done before a contractor is paid.

Build the team around the skills you have to ensure their skills set is complementary and start working towards your goal.If I can help you further feel free to reach out.Best!

#IroncladFollow IroncladTweet NowKey Points:1 It is always a good idea to have a home inspection.2 3 different inspectors of the same property can have 3 very different reports.3 Inspectors try to ensure that the property is livable and up to code.Just be cool about it.

If it's a drive up Self Storage Facility you can typically build on 30% of that (~15,000 sq ft * 2 acres) the remainder being driveways & aisles, retention ponds, etc.If it's a multi-story (single entry) Facility you can typically build on 70% of the land.However, you will certainly want to have a Feasibility Study and Supply index completed to ensure that it makes sense to bring new Storage online. 

This would ensure the heirs wouldn’t sell to someone else after probate.