I've got a 2 flat and closing on a SFH soon.

Also, it is a great way to learn many real estate skills while maintaining a roof over your head haha. 

I am all about using the tax code to your advantage but flat-out LYING about being a professional is unethical, immoral, and WRONG!

Flooring, walls, roof, electrical, egress with windows and I think there is something about having a door that exits the home... not just into the home. 

If the paint is flat, you could get away with spraying drywall without backrolling, but I still recommend backrolling.  

This step must be done carefully to avoid further damage.Structural Repairs: Address any structural damage first, including the roof, walls, and foundation.Systems Repair: Repair or replace electrical, plumbing, and HVAC systems as needed.Interior Restoration: Once the structural and system repairs are complete, focus on restoring the interior, including insulation, drywall, flooring, and fixtures.Safety and Health Concerns:Air Quality: Ensure proper ventilation and air quality during and after the restoration process to remove smoke odors and contaminants.Mold Remediation: Check for and address any mold growth, which can be a common issue in fire-damaged properties due to water used in firefighting.Final Inspections:City Inspections: Coordinate with the city for final inspections to ensure that the property is safe and habitable.Fire Department Clearance: Obtain clearance from the Fire Department confirming that the property is safe to occupy.I hope this helps, best of luck!

Fraud theft conversion not withstanding.. my main point Is the NPN space is a high risk niche.. you would not get those kind of returns if it was not.. so one would expect some bumps in the road.. but if this guy flat stole your money.. then OK  I get that one.. its happened to me over the years. 

Stainless steel appliances, new roof, new porch, new siding.

I'm needing a roof replacement.

I want to know what happens with vacancy rate and what happens if the market declines or new roofs have to be installed or repaving a parking lot or redoing side sewers.In my opinion, this will take someone with experience hours to graph out.It might be a "dyno-mite" deal, it might be more headaches that I want to put up with.