I wish I got to keep what I "make" lol, my gross income is NOT my net income, I have half a dozen people behind the scenes on any 1 transaction.   

Credit reference agencies record this information and companies may use it to assess any future loan/credit applications you might make.

You could see if your landlord would be willing to entertain a bid from someone that you found that is a licensed contractor in your state.Is the replacement assessment based on what the repair person stated, or just what the landlord wants? 

I'll throw in a few more things to consider:Property Assessment:Structural Engineer Evaluation: Before proceeding, hire a structural engineer to assess the extent of the damage.

So any insight on this would be greatly appreciated.How are properties assessed for property tax?

After thorough research and initial assessments, I estimate the rehabilitation costs to be approximately $250,000. 

I tell my wife I’ll take her out on a date for every late tenant and I hope a half dozen or more are late every month.

You also have the possibility of getting hit with special assessments over the years... these assessments can often be in the thousands of dollars.

Now, we've done dozens of new builds and flips and our mortgage company continues to fund development deals up to$ 20M.

Consider whether you aim to build a substantial real estate portfolio for ongoing income or diversify investments over time.Risk Management: Assess risks associated with property ownership, including vacancies, maintenance costs, and market fluctuations.Risk Management: Assess risks such as vacancies, maintenance costs, and market fluctuations associated with owning multiple properties.Tax Planning: Work closely with a tax professional to develop a balanced strategy that maximizes current income offset with depreciation, while planning for depreciation recapture and optimizing use of 1031 exchanges.