Slowly but surely my eyes are awakening to the many avenues in RE.I suggest ignore the various "cast's" of any kind and start at foundational elements.

So I went out to the property this weekend to get eyes on the property as they told me the tenants are not at the property.

It's about keeping your eyes peeled and finding that great deal!

Can someone catch this Hail Mary I am throwing downfield?

Overall behind in the process by about a year - just catching up now & could use some (paid) advice on how best to navigate the complications -Probably an hour or two's consulting, at the most.

So that's not a big enough difference in our eyes, and the opportunity cost of the 6-figure cost to rehab the basement is not worth the returns.

If all further work must be classified as either a "repair" or "improvement", then that would imply that there can indeed be "repairs" to a property that has not yet been rented in the eyes of the IRS. 

Eventually, you'll catch wind of a jv opportunity, or someone will clue you in on a deal they need help with. 

He broke it down into what most people estimate, what a handyman would estimate, what a "paper contractor" would estimate (I had never heard that term before), and what a full team contractor would estimate, and the difference was eye-opening.

I have some perspective on this.For me I see this as the market finally catching up with the excess inventory created by residences moving out of OHIO and that area to the south..