You haven't even closed yet so how can you assess its future performance as profitable or not.

Is it worth the money to level the concrete in the basement of a future rental?

I'd recommend getting an REI-savvy tax pro so you guys make sure you're maximizing your tax strategy as well as when it comes time to file.An REI-savvy tax pro is worth their weight in gold.

After getting a good amount of equity in the house for future HELOC funding, I was going to move out of it and use the property as a rental utilizing a lease option, or, rent to own agreement. 

@Rene Hosman the answer is a bit dependent on what your future uses are.

Then it would help if you still had more to set aside for future vacancies and capital expenditures.

In our observations it's because most tenants live in the moment and do NOT prepare for the future.

Just getting a head start on if it comes down to a future trial and then bringing in the lender as well and just interested in what other possible charges the lender or borrower could face that I want to begin researching but also to bring that up now to put more pressure on the parties.

Do you have any current/future investment opportunities Sam with Whitehaven?

Treat good contractors like gold because they have the highest dollar impact on the investment. 4.