I'm not sure where you got your 'potential income of 8-9k' per month as my math has it at $950 for the rental and 9x$400 for the TOHs for a monthly gross of $4550. 

I charge between 15% to 20% of gross rentals.

Gross Three million in assignments for our team.3.

This tells me one of three things: either it’s a scam or the developer has something to hide, has nothing in his background to justify that he could make the project a reality or the developer doesn’t think it’s necessary that he gives any information about himself, which in my book amounts to gross incompetence.

This is defined as those with gross receipts of $25,000,000 or less for a three-year period.Claiming Interest ExpenseIn order to capitalize on your interest expenses, taxes must be itemized, and investment interest expenses are to be listed under Schedule A on Form 1040.

For this particular rehab with a gross of over 70K, I sent him an email introducing myself and included a list of everything we had done, noting the upgrades as compared to the neighborhood without talking numbers.

Deductibility depends on the type of charity and is also subject to a percentage of the taxpayer’s adjusted gross income.

One thing is tax on gross sales not even net sales..

If it were me I'd fix it up to rental quality, no furnishings and rent to the first qualified tenant to apply (3 x the rent gross household income, no history of court with or debt to prior landlords). 

This is obviously very gross, but when I went to my lease document and pet policy I couldn't find anything that explicitly said this was wrong.