Normalize
Use collected rent and every cash operating cost.
TWO PATHS · ONE CONSISTENT SET OF ASSUMPTIONS
Would you hire this houseto be your next job?
A private decision ledger for Bexar County owners comparing collected rental cash flow, shock reserves, landlord obligations and a conservative sale net.
No address requestedNothing stored or submittedOfficial sources reviewed Aug. 2026
This site compares entered assumptions—it does not estimate market rent, property value, taxes or legal compliance. Verify with qualified local professionals and official sources.
Open ledgerThe owner-decision method
Normalize → stress → net → scenario → capacity.
Stress
Price vacancy, turnover, repairs and adverse cases.
Net
Turn gross sale price into conservative spendable equity.
Scenario
Separate current facts from future assumptions.
Capacity
Treat legal and operating duties as real work.
Ledger 01 · stabilized rental cash flow
Underwrite collected rent—not the perfect month.
Enter annualized operating assumptions. This is cash-flow arithmetic before income tax and depreciation, not a market-rent opinion or investment recommendation.
Ledger 02 · vacancy and shock reserve
Price the empty month and the bad month.
Use dollars—not percentages—for the near-term events that can force a sale at the worst time.
Ledger 03 · conservative sale net
A sale price is not spendable equity.
Use written payoff/title/repair/closing inputs. Keep a separate tax reserve until a qualified adviser evaluates basis, exclusion, depreciation and use history.
Ledger 04 · scenario—not forecast
Make appreciation earn its place in the argument.
Enter zero-growth first. Then test optimistic and adverse assumptions separately. Future value is uncertain and taxes are excluded.
Ledger 05 · landlord readiness gate
Cash flow cannot carry duties the owner cannot perform.
Rate evidence, not confidence. “Ready” means the document or operating process exists and has been checked—not that this site approves it.
Legal / lease
Texas lease, notices, fair housing, repair, security-device, deposit and eviction duties have qualified review
Property / safety
Condition, utilities, alarms, locks, habitability, code, permits and known hazards are documented
Insurance / loan
Insurer and mortgage terms permit the intended rental use; coverage, deductible and vacancy terms are written
Tax / homestead
CPA/appraisal-district advice addresses rental income, depreciation, basis, homestead and later sale consequences
Tenant screening
Written, consistently applied criteria and lawful application/screening/adverse-action processes exist
Operations
Rent collection, maintenance response, vendors, emergencies, inspections and record retention have named owners
Cash reserve
Vacancy, turnover, deductible, major repair and legal reserves are segregated and actually funded
Exit trigger
A written review date and sell/repair/manager threshold exists before losses become a crisis
Ledger 06 · owner-fit check
The highest modeled return can still be the wrong household job.
Assumption shield
Optimism is not a reserve.
Official decision shelf
Tax rules and landlord duties belong in the model.
IRS Publication 527: residential rental property
Official federal guide to rental income, expenses, records, depreciation, vacant property and rental-use rules.
IRS Publication 523: selling your home
Official home-sale basis, gain, exclusion, rental-use and depreciation guidance and worksheets.
IRS rental income and expense tips
Official overview linking rental reporting, deductible expense and recordkeeping resources.
Texas Property Code Chapter 92
Official current Texas residential-tenancy statute covering repair duties, security deposits, security devices, disclosures and remedies.
Texas Comptroller property-tax resources
Official property-tax explanations and residence-homestead forms; verify consequences with the appraisal district.
Bexar Appraisal District
Official local appraisal, exemption, ownership and property-tax account resource.
HUD fair-housing resources
Official federal fair-housing rights, responsibilities and complaint information.
TREC license-holder search
Official Texas search for real-estate brokers, sales agents and inspectors when a licensed service is represented.
Rent-or-sell questions
Correct the comparison before choosing a path.
Is expected rent the same as rental income?+
No. Underwrite collected rent after vacancy and credit/collection loss, then subtract every cash expense and reserve. Advertised rent is only one input.
Can I deduct the whole mortgage payment?+
No. IRS Publication 527 distinguishes deductible interest and expenses from principal. Depreciation and basis rules are separate. Use a tax professional for the property.
Does depreciation make a losing rental profitable?+
A deduction is not cash and does not reimburse an expense dollar for dollar. Depreciation reduces adjusted basis and can affect later gain; tax benefit depends on the owner’s facts and limitations.
Will renting eliminate my homestead exemption?+
Eligibility depends on residence use and current Texas/local rules. Do not assume. Contact BCAD and obtain tax advice before changing use or claiming/retaining an exemption.
Can I use a standard internet lease?+
A form is not a compliance system. Texas law, federal fair housing, property condition, local rules and the actual arrangement matter. Obtain qualified review and build operating procedures.
How much vacancy should I assume?+
Use property- and market-specific evidence plus a stress case. Vacancy also creates turnover, utilities, lawn/security, insurance and leasing expenses—not only lost rent.
Should I hire a property manager?+
Compare written scope, fees, leasing charges, maintenance markups, reserves, authority, insurance, licensing and termination terms. Management reduces tasks but does not erase owner risk.
How should I compare appreciation?+
Run a zero-appreciation case first, then an adverse and evidence-supported upside case. Appreciation is uncertain and not spendable cash until a transaction or financing event.
What happens to the home-sale exclusion after renting?+
IRS Publication 523 contains ownership/use tests, nonqualified-use rules and depreciation treatment. Timing and prior use matter; get tax advice before conversion or sale.
Does an as-is offer prove selling is better?+
No. Compare verified net, certainty, timing and obligations against a realistic market sale and rental. One offer is a decision input, not an appraisal or recommendation.
WHEN THE SALE COLUMN NEEDS A REAL INPUT
Request an as-is comparison Add one written as-is option to the ledger.
Bexar County Home Buyers can provide a no-obligation as-is property option for comparison. We do not estimate rent, manage property, provide tax/legal advice or claim selling is the best path.