And assuming you do itemized deductions and take the interest cost tax break, you are looking at 3-5% or so in actual cost of interest for your home loan.If you can't make at least double to triple that (10-15%) in annualized returns on your real estate holdings, then you need to not be investing in real estate.

One thing my broker brought up is that this may be considered a conflict of interest when it comes to the statement of identity that would have to be signed.The rehab budget is only going to be about $20-30k (walkthroughs for estimates next week) and I will be using subs for most of the work with the exception of some big ticket items like cabinet install and kitchen/bath tiling.

I notices at home depot the other day what great deals they have on "open boxed" items, returns, or items that were returned and repaired.

If you are this worried about replacing a $300 item then rental property is probably not the business for you.Lowes has a Frigidaire one I usually buy for $359 (or a $329 one with nothing to break, no control panel, no window....just 5 knobs) and they deliver the next day for free.

They asked me for assistance with the New Construction Addendum to RPA-CA and I could use some help with item #1 on that form which states:1.

CONTINGENCIES MAY EXIST: I understand the sale may be contingent upon Buyer's inspection and approval of certain items described in The Agreement.

Just your info on the top and then a line item showing the monthly price with a quantity of 3.

Then you can keep all of your personal/private information one and only list business related items on the other.

But basically, while taking depreciation on the building, how do you also take depreciation on items like appliances and flooring? 

Of course, a CPA preparing your returns may save you the additional cost of tax prep anyway as we are acutely aware of expense line items missing from your returns.