Hello BP members, I am in the process of evaluating 6 unit multi family with tenants in place until Feb 2026. 3 unit ( 2 b 2.5 bath) townhome3 unit (studio 1b 1b) Here are the numbers Asking Price : $725000Down Payment : 25%Seller Financing : 3.5% (Interest Only) 5yr balloon period ( Principal Amount due : $543750)Total Gross Rental Income : ~$81000 annuallyTotal Annual expenses : $45400$7200(Property Management)$12000(Owner Paid Utilities)$12000 (Taxes + Insurance) $2200( Pest control + landscaping) $12000 (Repairs/Capex Reserve )Net Operating Income : $81000-$45400 = $35600Total Cash Invested : $181250(down payment) + $13000 (closing cost) Annual Deb Service : ~$19000(Interest only)Net Income : $35600 - $19000 = $16600Cash flow per month : $1400 Cash on Cash Return : ~8.5%There is an upside potential on increasing the rent on 2B units during lease renewal. 

Sean, May I get a copy of the log as well?

When it comes to logging receipts I currently scan and save them in a desktop folder for future reference.

.: I use leaseRrunner, I tell the prospective tenant to set it up and pull the report, then sends me an email where I can log in to look at it online and print it out.

If I am already logging hours to qualify for REPS on my LTR's, and place in service an STR this year, can that be grouped in with the LTR's?

., have the STR treated as a non-passive business activity).The most common test STR investors use is the 100-hour test (Test #2):→ You must spend at least 100 hours on the property and more time than anyone else, including a property manager, co-host, or cleaner.So, if a PM or co-host is logging more hours than you, you may lose eligibility.

My company takes about 50% off Airbnb bookings where tax is collected and remitted by us, and its as simple as pulling a report and logging into the county site(s) and the state sites and submitting. 

They become water logged and are VERY difficult to lift. 

Has anyone used a virtual assistant to login data into a Excel spreadsheet like for instance, if I'm interested in foreclosure can I give to virtual assistant the websites that I want to look into and have them log the information as far as how much the bid amount I am willing to go up to.

., avoiding hotels or long commutes).Exclusive business use: If the camper is used only for the flip project and not personal travel, you're in better shape to claim full deductions.Tax Treatment OptionsSection 179 Deduction:You may be able to deduct the entire purchase cost in year one, up to $1,220,000 in 2025 (subject to phaseouts), if the camper qualifies as “listed property” used more than 50% for business.Personal use will reduce or disqualify this.Depreciation:If it doesn’t qualify for full deduction under Section 179, you can depreciate it over 5 years (typical for vehicles), but again, only for the percentage used in business.Operating Costs:Fuel, maintenance, insurance, and registration may be partially deductible based on business use.Self-Rental Caution:If your LLC owns the flip but you personally own the camper and rent it to the LLC, the IRS may treat it as self-rental and recharacterize the income or limit deductions.TipsKeep meticulous logs of time and purpose at the site.Track business vs. personal use percentages.If audited, you’ll need to prove the camper was used for business and that your use was reasonable and necessary.This post does not create a CPA-Client relationship.