Older building with lots of opp for moisture invasion, $1500/unit/yearWell-maintained building with no major CapEx due = $1000/unit/yearRealize that turnover is a different budget and CapEx is treated diff since it's not really an operating expense.

At the same time, Dave would probably have a brain aneurysm if he knew how I structured that first deal.I continue following Dave’s advice as much as possible for my “personal funds,” but I do use some of those funds to invest in my real estate business and I treat those real estate investments as a separate business where I follow REI mindsets and strategies.

I never used general chemistry to get my professional license or to treat patients.

We'll plan to treat the floor with some type of enzyme that kills bacteria, but I'm also planning to run an ozone machine.Do you have any recommendations of machines you've used and for how long to run them?

Be good to all and treat people fairly!

This might be helpful:  If a taxpayer's capacity in a given activity is more akin to that of an investor, then the activity cannot be treated as participation for purposes of deducting passive losses unless the taxpayer is involved in day-to-day management.

It is OK to treat this down payment as you would a business, and this aspect of it should be treated as such IMO.

Treat this as a business, because it is!

I just continue to try and find people who are better than me at the task and then bring them on my team (treat them right).I can definitely help with some rehab/construction cost numbers.As far as rehab financing goes I would link up with @Michael Barbari and he will get you lined out.

It may not fit your plan perfectly but you may want the investor be the lender and treat it like a hard money loan.