Account for all costs, including closing fees, holding costs, and repairs.

Feel free to DM if you have any questions or would like some resources on the topic. 

You can absolutely leave out the exterior pictures if feel they will hurt you.

The first is that there's no consensus between tax professionals, and the second is that you will not like my personal interpretation.My interpretation is:Until the property is "placed in service" - everything goes into basis.Illustration.You buy a property July 1st.You finish rehab November 1st and put the property on the market.Your tenant moves in January 15th.The property was placed in service November 1st, and it does not matter that the tenant did not move in until the next year.Everything paid between July 1st and November 1st, including interest and utilities, goes into basis.

I will ask the seller for a concession to replace the wiring, which could be $10k-$30k, but I have a feeling they will reject. 

Collecting rent statements, expense receipts, mortgage interest docs, and more—can sometimes feel like a full-time job in the weeks leading up to tax day.

If you ever have any questions regarding this or in general feel free to reach out I enjoy helping and ensuring other BP members avoid lost time and money. 

I can’t keep looking for properties that will cashflow because I feel like I’m wasting my time at this point.

We're looking at a rather large loan and I feel like we could go down a different road if this place is not legit.Thanks. 

My application includes an acknowledgment that everything is true and complete.