My professor made modifications to it, so I’m not sure if he messed something up?

So you'd need to add a partner to your new LLC (they could own as a small as .01%), and probably do some other modifications to your operating agreement to satisfy the IRS requirements for a Qualified Opportunity Fund.  2. 

I also checked neighborhoodscout.com 640 Vital statistics and 22 condition alerts found.

That was a modification to property and they should not have allowed that without asking permission, (assuming your PM agreement does not have any weird clauses.)All that being said, I understand their logic.

This has ramifications in what further modifications can be done when there's no baseline of the home.

Choosing a broker is vital in which tools are available.

It is vital to narrow down which type of asset you are looking to invest in. 

After a few more, perhaps I will be able to do it “by the book” but for now, doing a modification on BRRRR is better than nothing.

I'm looking at a Sheriff's Auction for a property which was refinanced under the Home Affordable Modification Program (HAMP). 

The numbers aren't exactly correct, I wanted to start with building out this rough calculator (modification of an existing one) and refining it from there-I combined capex and repairs and kept them a little lower since its in good shape already and doing a small fixup of everything needed.- Incorporating the equity gain from ARV: 134 purchase and close - 30 rehab --> 190 ARV (low end).