This attitude was adopted way before computers and accounting software was available, so since the adoption of GAAP is now at such a low level and at a lower barrier to the use of a decent accounting system, I'd suspect any IRS examiner will not be happy looking through your shoe boxes that are color coded as your system.I suggest you get with a bookkeeper who can help with a "chart of accounts" for your business, get an accounting program and set up your system.It will pay you to become familiar with basic accounting and the concept of expenses, depreciation, income, assets and net worth.

For a building other than a certified historic structure (a) atleast 75% of the external walls must be retained with 50% ormore kept in place as external walls, and (b) at least 75% of theexisting internal structural framework of the building must beretained in place.

When doing property updates, my "All Star Tenants" get first priority for improvements to their units.My "All Star Tenants" also are rewarded with things such as complimentary professional carpet cleaning of their traffic areas, opportunity to paint a wall or room a different color or another enhancement to their unitIt doesn't matter whether you are age five, fifteen, thirty, or sixty.... seems everyone likes to get a star!

Hi John,Could you provide a bit more color on the unsecured business line of credit program?

Where do those pipes go through the wall?

Kitchen sinks are shallow basin and can't be replaced with a deeper basin unless you change the level where the drain meets the wall.  

I had a 3 family in Everett, MA when I was 19 and went in for an inspection and the tenant literally had blown out a human sized hole in the wall between the kitchen and dining room. 

We used this exact color scheme on a couple of our flips this year.  

I'm not sure that I'd call that "move in ready", but I've seen much, much worse.I agree with the inspector that you should inquire into a warranty for the foundation work that was done in the past as well.I think the issue is that since you're relying on a property manager, some of these things that I would consider minor (such as weather stripping doors, cleaning out dryer vents, changing out light bulbs, sealing the bathtub, tree trimming) are things that I'd spend a day or so doing myself and it'd be no big deal - less than $100 of materials - might cost you a bit more since you're paying for labor.The one thing that is puzzling to me is the crack in the bathroom wall.  

Cracks in the middle of rooms can be an issueWalls; look for cracking in the walls.Small hairline cracks a common and normally not a problem.Also small cracks above window and door openings are common.Larger cracks may be a sign of foundation movement or improper construction of the wall framing.Foundations; walk around the building to observe any apparent foundation movements.While not major problem in the area, this can be an expensive fix.Thousands of dollars.Others; doors and window not opening and closing properly.Several things may be the cause of this including foundation settlement and framing problems.