Many QI firms like ours will have calculators on their websites that can help you as well.The first thing you want to calculate is your adjusted cost basis, which is the purchase price plus capital improvements, minus depreciation.

Liability protection, especially if you’re holding multiple properties.Partnership structuring, if you’re investing with others.Cleaner separation of finances, if you use a business bank account and separate books.What You Could Do Next:If your goal is to deduct more, consider whether you (or your spouse) can meet REPS or STR criteria in the future.Speak with a real estate-focused CPA to double-check how those reno and repair costs were categorized (repairs vs. capital improvements), and how your passive losses were handled.This post does not create a CPA-Client relationship.

Even small improvements like proper lighting, fresh paint, and flooring can make it feel usable and increase buyer appeal.

What’s been working for me and my circle lately:Seller financing: solve the seller’s problem first; short-term interest-only with a balloon after value-add keeps cash flow strong.Sub-to/wraps: take over low-rate loans and keep the seller whole—huge when DSCR is tight.Hybrid: small seller carry + private second to cut cash in, then refi into DSCR once stable.Private money: secure with note + mortgage/deed, pay on milestones, send updates—consistency = repeat capital.HELOC/LOC stack: close fast, cover rehab, then refi—speed wins deals.Lease-option: control now, improve, then exercise once financing improves.

Cosmetic improvements and new appliances.

Yard improvements: New grass and sprinkler system, and flower garden areas.

Motivated seller; facility and rent roll improvement opportunities.

Or improving it (like house flipping)?

The positive cashflow can help prepare for these improvements.

Refinancing has been a key move for many landlords looking to expand.Cash-out refis can free up capital for new acquisitions while rate-term refis improve monthly cash flow.Have you refinanced lately, and if so, did you use the funds to scale or just improve your position?