That filing matters immensely because these sorts of transactions are “Listed Transactions” (see IRS Notice 2004-8) – meaning that if a taxpayer does not report them (most do not), then a fine of 75% of the taxes saved would have been due – that’d be on top of the taxes owed and the other penalties & interest due!

Two days later we were informed by the tenant that the gas was shut-off to their respective space served by the package rooftop units whereby portable electric baseboard heaters were purchased and brought in to provide temporary heat until such time a final decision could be reached as to whether to repair/replace the existing package rooftop units.

I’m a finance professional by day and a real estate investor on the side.  

@Edward KaniveDon’t your contract have a finance contingency that allow you to cancel the deal if you can’t get finance?

I'm not a finance person, nor have I done an FHA reno.; just throwing this option out there for you or another investor who reads this thread.

        - If disputed and applicant sends supporting evidence, perform an "Individualized Assessment" and send a 'final determination letter'

@Micah Hensley I was just thinking about doing this for my rentals. seems like i know the numbers in my head but i never got around to actually putting the numbers down into a spreadsheet. i think i’m just going to start listing categories ex; property, tax, insurance, management fee, rent, current value, purchase price, total rehab, to date repairs, etc. then maybe do a final value for roe. not sure how this will work but maybe i see something when all the numbers are laid out.

The lender will always require its in place as a final checkoff and it's easy to miss when they're not involved.

As someone who has worked as an analyst at multiple CRE companies and hired many as wellIt helps you sell your story, but your major GPA and other relevant experience will get you in the doorBeing a finance major is an excellent start.

If not, you’re getting a fine, possibly large one.