Adjusted Basis May Include Improvements and Selling CostsYour adjusted basis is not just your original purchase price, it includes:Major capital improvements (e.g., roof, HVAC, not repairs)Certain acquisition costsLess any depreciation you claimed (or were eligible to claim) if the property was rentedIf the property was a rental, even without gain, you may still owe depreciation recapture tax, which is taxed at 25% on the total depreciation taken.3.

Initial rehab of your property is not "repairs", it is "capital improvements."

Could I use the county appraised value (non-homesite improvements vs land) to get that? 

No repairs or improvements will be made over $400.00 without the written consent of the property Owner except for emergency repairs.

Property Evaluation: Determine an accurate rental rate, provide repair & improvement recommendations - all to get you the best ROI.Marketing: Create tailored ads, work with agents, provide property info., schedule showings, & handle applications.Tenant Screening: Perform background checks & qualify select tenants based on predefined criteria.Tenant Move-In: Finalize leasing agreements, confirm move-in dates, conduct inspections, & collect rent & deposits.Rent Collection: Handle rent payments, late notices, & enforce late fees.Evictions: File paperwork, represent the owner in court, & coordinate with law enforcement.Legal: Advise on disputes, refer to attorneys, & ensure compliance with relevant legislation.Inspections: Conduct regular property inspections & send owners reports.Financial Management: Make payments (mortgage, HOA, etc.), maintain records, provide tax reports, & offer cash-flow statements.Maintenance & Repairs: Oversee maintenance, hire contractors, & monitor repairs & larger projects.Tenant Move-Out: Inspect, report on damages, return deposits, clean the unit, & re-list the property.** PM's - let me know if I missed anything!

Tenant improvements or managing capex projects are something a solid pm helps steer and make recommendations. 

Focus on making those improvements that are needed.

Bath, bed, curb appeal, updated flooring/paintHow do I avoid over-improving a property?

So if the net number is positive CF, then your DTI actually improves, not gets worse. 

They’ve been really pleased with the performance so far.This area of West Tulsa is a solid B-/B neighborhood with pockets that are improving steadily, especially given the close proximity to downtown.