It has a fairly solid workflow. 

Quote from @Michael Overall:I understand the utilities will go to basis, on the interest is it able to be yearly deducted based off the conversation you referenced if using form 4952According to one of my colleagues on that thread - yes.According to court - no.

Valuing your time and understanding your limits and skills will make a big difference in the equity you build, the quality of the work and your sanity. 

Is my understanding correct? 

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.DM us if you’d like to discuss this logical approach in greater detail!

With that being said, we understand that not every deal we put an offer on will get accepted.

You owe your counter-party a standard of honesty and transparency - be sure they understand that you are an agent, but don't represent them, and are looking at their house as a for-profit investment.The pros and cons have been discussed endlessly on BP.  

Have you modeled the deal conservatively and fully understand the downside risks.

I do not understand how that happened. 

I’m just getting started and looking to soak up as much knowledge as possible—whether it’s about finding good deals, managing renovations, or understanding the financial side of things.