Showed the restoration was done by a professional company specializing in water damage.

Design kept changing, but we were able to restore the 1950's wood doors & stained glass window to keep as much of the original charm as possible.

Design kept changing, but we were able to restore the 1950's wood doors & stained glass window to keep as much of the original charm as possible.

In a neighboring town (granted they are ridiculously strict) they made someone who did not get a permit remove the addition and restore it to its original condition.Once you own the property, all these issues are yours to deal with.DEFINITELY know what you're getting into with this, and call the agent out on crap advice like this. 

(I actually know of people who are both buying and selling at the moment and taking these two contradictory positions, depending on which hat they are wearing at the moment.)The disconnect alone has forced cap rates up, though it's not translating in the data yet because the deals closing recently were in the pipeline before Covid hit, and everyone else is holding their deals off-market in the hopes of a quick rebound.If either (a) the economic openings do not restore the economy to where it was in January 2020 or (b) a second wave of Covid hits because of the openings, happen, then all bets are off.  

Another friend, who is a self employed massage therapist got it as well. 

You must divide the cost of the improvement over the useful life of the improvement and then take an annual deduction based on the given year's expense.A repair is made to restore an item to its previous condition.

Whatever they do, do not massage the numbers and raise their offer just to buy a property.

Ideally, I would like to fix/ restore old homes, and sell or keep them as airbnbs.

Hey Kamil,Old homes do have their own particular challenges, there are a few specialty companies out there that deal mainly in remodeling and restoration of "classic" homes.