Everything Paige said and a few more.All vehicles must be licensed, tabbed and operableNo water beds, pools, portable heaters, portable dishwashers, portable clothes washers or dryers shall be used on the premises without prior written consent of agent/owner.No dust, sand, dirt, rubbish, coffee grounds, feminine products or other foreign material shall be flushed or washed down toilets,sinks, or wash basins.

This might mean using cheaper materials or rushing the job, which can affect the durability and quality of the renovations.3.

so my first out of state investment property is current $7000 over budgets and looks like I have about another $8500 plus materials to go. thoughts?

@Michael Plaks has a great post on this topic.2 - Assess the value of those tax deductions to you: The value of a deduction depends on (a) whether you're actually able to use it to reduce taxable income and (b) your marginal tax rate.As an STR, assuming the average rental period is 7 days or less, key items to consider are: (a) material participation and (b) avoidance of "excessive" personal use.

Costs of materials can fluctuate, so there are expenses that will be estimated. 2. structure a payment schedule that depends on certain parts of the project being completed.

I was able to negotiate a package that included the land, some of the materials, and the permits to build it.

This is more of an equity play, and if you're going to live in it, then that is a material benefit as well, along with the cost seg benefits.Always think of your exit strategy when analyzing a deal.

I do understand that most people do not think that way, But as I said, I have had people make remarks like that to me Like any trade, to do it properly and thiroughly, you have to have the right tools and cleaning products, and you have to have knowleedge, so not to ruin the materials used for tubs, etc.

We do the whole place in the same material (these are all apartments) and people love it, just like if someone put hardwood through the whole house. 

GPs do not like to put material portions of their net worth into deals.