Costs after it’s placed in service are deductible as rental expenses.If you need help tracking these costs or categorizing them for your tax return, consider working with a tax professional or using software that helps you manage rental property expenses.

I'm happy to help! 

If you wanna be part of my team or have a referral/recommendation, I'll be more than happy to hear about it. 

I spend roughly $120k on my renovations, but this is for the entire property and developing the secondary suite which certainly costs more (2 new furnaces, all new plumbing, new kitchens and bathrooms with tiled floors and showers).All said and done, I personally love it.

Much of the negotiations during due dilligence depend on demand for that specific property- hopefully your agent has build leverage in to your contract that they can use to help you with this piece. 

I'm more interested in an ABB type deal but will work with what cash flows.

Quote from @Hai Loc: Interesting  How do I learn more? 

With the help of an investor-friendly agent How did you finance this deal?

The refinance step is where you pull out this equity, typically in the form of a cash-out refinance.Here’s how it works:You refinance the property at its new appraised value (after rehab and renting).You take out a new loan based on that increased value, ideally for the full amount or more than what you originally paid for the property.The goal is to pull out enough money to cover the cost of the original purchase and rehab (or even more, depending on the property’s appreciation).This allows you to recover your initial investment, which can then be used to buy your next property.5.

The guy who runs it lays it out like this..1-5 rentals you are still doing okay, have more stuff come up between all rentals the closer you get to 5 or at 5.