:I've always had a desire to own investment property, but had always assumed it would be something I could do down the road a decade or so, once the kids were grown more and I had either sold my business or expanded to the point of excess cash-flow and less daily obligations. 

This of course assumes that this property was not acquired in a 1031 exchange.However, any costs incurred to acquire your mortgage (if you have one, which it sounds like you do since you got an appraisal) should be amortized over the term of your mortgage.Also, there are some costs on your closing statement that you may be able to expense immediately.Also, it's possible that you incurred some additional costs that increase your basis in the property post-acquisition or possibly even pre-acquisition.You may also have start-up costs that you may deduct up to $5,000 (assuming you don't have in excess of $50,000 of these costs), the excess being amortized over 180 months.Check with your tax professional.

.$2,000 to make Ready Home (750 sq foot, 1 story home) ________________________________$95.00 - Landscaping / Clean Out Flowerbeds$150 - Exterior Painting$150 - Landscaping / Tree Shrubs$250 - Haul Off (Limbs, Tires, Furniture)$225 - Full House Cleaning (One Story)$495 - Wall and ceiling repairs/Paint Touch up the house from nail holes and scuff marks Seal the joints in the bathroom Walls, trim, and doors touch up Seal above the kitchen cabinetsThis all seems excessively high to me... isnt this $15/hour work with a handyman?

-Q1: Sounds like I loose title insurance if I transfer title to my LLC.

The capias list for Housing Court is always fun to review to see which properties are allegedly (innocent until proven guilty and all) excessively delinquent.

Am I expected to loose rent for the month they're at a hotel?

Get that money to come home as soon as possible then  turn it loose on the next project.

Just like others, i do not want to loose profits but i definitely don't want to charge too high risking vacancy.   

Just like others, i do not want to loose profits but i definitely don't want to charge too high risking vacancy.

Now im about to loose a really good deal, HML want ridiculous funds upfront, and really take there time to process the deal.