Cap ex is not easy to absorb and the "excel pro-forma"  rarely materializes as reality. 

After revising the bid to include one-liners detailing the work and materials, I'm now awaiting further feedback.

There are more hoops you have to jump through with inspections, building techniques and building materials.

@Kaleb Phillips an agent promoting their industry, no surprise.Problem with it, is that agents are transaction based. 

I got my materials money back and everything I paid painters, etc..

I know OC is doing a lot of off season promoting and events, but by the calendars of the STRs I've looked at, it still doesn't look like most properties are booked then. 

Any land held for potential appreciation, for farm usage, for its raw materials,  or for potential future development can qualify.

Quote from @Zachary Jensen:  Hey Dan, As tax accountants and strategists, we can't self-promote on the forum.

We renovated property doing all the work ourselves so I'm not sure if we can factor in our labor into the money we put into the property, not just materials?

I have thought about getting a card through a box store like Home Depot but don't want to be limited to the benefits of just one store, as I buy multiple materials from many different vendors.