Depending on the asset type, age, etc. you can shorten the depreciation timeframes under current IRS rules, as well as "catch up" on certain items of the aspect.

Kevin,One item that many spreadsheets don't get quite right is the Taxes.Using the current taxes as a starting point, you need to determine what the likely new taxes will be.

How much allowance do you have for; vacancy (which you will have as soon as you announce a 10-20% rent increase), major repairs-you don't mention the age of the roof, HVAC, any appliances, trust me, flooring is a small ticket item comparatively.4.

:roll: Here is how I enter the initial purchase.1005 19th Ave Asset:land Debit $26,6001005 19th Ave Asset:bldg Debit $239,400Closing Costs:1005 19th Debit $76381005 19th Liabilities:1st Mort Credit $212,8001005 19th Liabilities:2nd Mort Credit $26,600Owners Equity [earnest $] Credit $34,238I think it makes sense as you mentioned to expense most repair items and capitalize the improvement.

It is great not having to deal with any maintenance, upkeep, however structural items are normally the lessors responsibility.

They didn't seem to know about the items used in the drywall.

Ryan,You mentioned that your expense ratio includes deferred maintenance items from the new properties you're acquiring.

The bond steps in much earlier in the process.If they won't voluntarily disclose their bonding company, you may have to get an attorney to file against them and start discovery.Not all of the items on the list in your first post would be covered by the bond, but improperly managing the utilities should.

In every case I have prepared a binder detailing every repair, no matter how small, every improvement and remodel, comps from the area and the list of upcoming maintenance items.

I would also send an additional letter pointing out that you will store their items for no greater than 1 month with a charge of $50.