Thank you so much Sam i will do.Also what would you say are the key components to analyze when looking for deals

You go through the process of analyzing a deal, getting it from accepted offer to closing, working wit contractors and understanding all the components of a house, advertising it for rent, backgroundchecks, leases and ongoing property management...

TBD - planning to update cosmetics to current market trends, replace HVAC and other Critical components What was the outcome?

Also keep in mind that the size and leverage component of your equity position on your balance sheet should drive your perception of risk relative to the size of the note you're being asked to kiss. 

But if you're asking how is the value attributable to any land component of a given property acquisition determined, any reasonable method will suffice (e.g., allocating the land value based upon local property tax valuation ratios might be acceptable).

We are looking for a REI lawyer to talk to about all of the agreement components before submitting the registration for our LLC. 

The inspection came back pretty rough and basically it all the major components need work.

They have bills to pay on the property like taxes, insurance, mortgage, utilities, maintenance and repairs, and replacing components of the home (cap ex).

Did he actually rewire the house or just use existing wiring and bring plugs, switches, and visible components up to code?

All deals have two components that make them deals:1 - Lowest out of pocket (cash) you can do.