There isnt any one magic "cheapest" loan - it will be highly specific to the deal.

If you are going to be doing the rehab work in exchange for equity then that value needs to be determined up front with a specific timeline that you have to adhere to in order to earn your equity.

kudos for your specific and thoughtful post. 

A couple of tips:Ask specific questions: The more specific your questions (like, “How do you evaluate a potential deal?”

Specifically, Texas has some of the highest insurance and property taxes in the nation, but the appreciation makes up for those high costs in the long run.

The best way to do this is to renovate a unit or two to the specifications to bring it up to market.  

I'm wondering how much specifics I need to include for each line item. 

I know I already mentioned this, but @Mordy Chaimovitz...If you can get by with lower cash flow and invest for the long-term generational wealth (aka appreciation) in nice neighborhoods, that is the way to go, but it's tough to get by at times -- at least it is for me.Just know everyone's situation is different, and you should do what is best for your specific circumstances!

It's the only way you'll get a good idea of what the market is really doing in your area, and keeps everyone competing to find the best coverage, deductibles, and premiums for your specific account.Hope this is helpful. 

I will not comment as to the tax laws and underlying rules - that is a discussion you can have with your tax advisor who presumably you are paying to help you.What I will do is provide practical and business guidance on tracking time.Firstly, there are apps available that can assist with time tracking where you can specifically detail your time, who you met with, etc.