Keep in mind the more you write off the less money you will show as you net.If you have (2) full years and depending on how the accountant files your taxes you will have a schedule C more than likely or another schedule that shows profit and loss.

It’s certainly going to be more expensive than if it was done right the first time but this can’t be a big deal in the scope of a full gut.

. - Fortunately, our transparent systems allowed the owner to catch it:)- Full transparency - we would have never caught this honest mistake:(An owner also needs to be involved to approve & fund large expenses: maintenance, property tax & insurance payments (if they want to be more hands off), evictions, etc.A great PMC should also have a chat with you annually about your future plans for a property and your portfolio. 

Is the current lender requiring a 1007 as part of the full appraisal?

It's a fairly unregulated space (charging grandma $750 to puts around for 3 hours, after moving the old box from the horizontal sensor, which was the only problem with the garage door to begin with), so some combination of carefully reading reviews (you have to actually read them to make sure it's not 200 fake reviews), and maybe not giving them the full contract all at once, is in order. 

It also depends how distressed - knockdown, full gut rehab, cosmetic rehab, lipstick flip.

You may be full for three months, then sit vacant on some rooms for three months or more.

I mean we tracked a 2 mil population metro and were able to buy 1 to 3 a month with 6 full time folks doing nothing but the tracking and door knocking. do it yourself going to be a challenge but hey give it a try see how it works.

I won't give my full bio here but I am happy to dive into details upon introduction.

We have the full gambit from 1) finding and buying the right property in the right locations to 2) professional execution of the design to 3) discounted property management services.