Make the offer appealing by highlighting the short-term ROI from his renovation expertise and potential profit-sharing during the partnership.

@Diandre Pierce some excellent suggestions here on the thread.

You must have excellent connections, industry knowledge, experience, and project management skills to achieve this outcome for those numbers.

The price was lower than anyone else offered.

They will just wait for you to cancel the contract and offer on the listing themselves. 

3) Is there an official IRS form where these hours are documented, or would an excel file suffice ?

I prefer building my own spreadsheet on Excel and fine-tuning the specific expenses myself.

Of course there was offers to register for more courses and mentoring  and various up sells, but you will find that at any seminar. 

Can you guys please offer me some expert guidance when it comes to evaluating finished basement square footage in my comp analysis in North Carolina?

Find a good lender, get pre approved, make sure you practice running the #'s using the 100's of videos and guides from BP, find an investor friendly Realtor, and then start making offers on any property that meets your goal.