What else if he isn't actively managing the property at all?

In all actuality move in Inspections are a waste of everyone’s time and they are very inefficient.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

I use to tear down dozens of homes here and in Franklinton that almost blew over. not a lot in linden since they are built after 1945 and without all the major issues. 

First of all welcome to the BP Community. 

Quote from @Cindy Young: Hi All - if anyone has rec'd CPA advice or knowledge regarding my question, thanking you in advance for response.  

We refinished Floors, New paint on all walls and ceilings, new light fixtures, rebuilt entire back deck, painted entire exterior, trimmed large oak trees where branches were hanging over the roof.

It is naturally insulated and it captures passive heat with strategically placed windows.

Let's assume you accounted for all expenses and have a full $2,400 monthly cash flow.

Partner with a real estate marketing company out of Las Vegas or Provo, Utah to market, promote and advertise the “mentorship” system consisting of the free seminar, followed by the modest fee weekend workshop, followed by the $15,000 - $40 000 full mentorship program.Here are the usual results1- 99% of “students” never earn back the cost, despite 1000s of wasted hours2- students learn nothing of real estate principles, real estate finance and real estate law which are the necessary foundation blocks of knowledge necessary for a SUSTAINABLE career in real estate investment 3- with hundreds or thousands of “students” unleashed on the real estate selling public they’re AT BEST an annoyance of trying to do “unrealistic” deals, AT WORST lead to a disastrous result for vulnerable homeowners.4 - The career real estate investors, service providers, brokers, lenders, etc are so disgusted with all of it and the outcomes they see that that can’t even comprehend that the subject technique or strategy does have a legitimate use when utilized (1) by and experienced and well capitalized buyer and (2) full disclosure is provided all parties with legal representation.