I'm looking for advice/opinions on what an individual's personal finances should look like before investing in real estate. 

After restoring possession I called the number of the servicer left behind by the preservation company and explained my belief they had hired a company to illegally break and enter my property and I had reported the matter to the authorities. 

Account ClosedThere are normally two ways for more than one individual to own property1) Tenants in common2) Entity owns the title and there is paperwork that indicates that you both are owners of the company(LLC, LP, GP, Corp, etc)You need to report income if you are receiving rental income(regardless or how ownership is held). 

It depends on the individual property and the area of the country.

They are not suing the company rather the individual who owns the companies!

Yes you get all depreciation write-offs etc as just an individual holder, and note your accountant will likely need to file a Delaware tax return each year for your rental income in Delaware, but this is usually easy and cheap. 

With this individual, no verifiable income is a no brainer for me.

Hi Victoria,All of those individuals could hold the solution to your problem but may not necessarily offer budget friendly options as they have their own additional fees for such service.I would suggest speaking with a Carpenter or General Contractor who specializes in Kitchens and Baths as they can assist with the design and execution of the project.As far as some options that you have (without seeing you kitchen) you can refinish the cabinets to update the color, replace the cabinet doors to a modern style, or update the counter top and backsplash.

Wood isn't cheap and neither are contractors right now so your deductible very well be less than your individual share.  

For SFR individual owners, we have the same process, but may need them to send in additional funds if necessary.