Oh, but don't forget to deduct tax on that).I reckon there are just too many uncertain variables to risk paying (at least) $89k on a home that sold comps say should be worth $99k (if rehabbed to market satisfaction).Looks to me like the "seller" is a wholesaler, looking for a flipper-wannabe to whom $10k seems magical... 

However I hate taxes, you get $250k or $500k fed deduction—I’m  not sure how that works in California but to add another 13.3% tax keeps me out of Ca.

After sending the security deposit with deductions for: holes in walls for TV mont, paint cost for kid writing on the wall, damage door knobs and damage to the flat kitchen drawer the tenant wants his full security deposit back stating because he was living there before I brought property and because the damage were already there.

Never ever deduct damage expense's from a tenants deposit.

Interest is deductible and hopefully the HELOC money is a temp solution with a cash out refi on the new property being a long term solution.  

You would deduct a home office etc if there is a business use. 

You will still have to hustle to acquire tenants, get them to pay rents consistently, then out of those profits, you still have to deduct vacancy factors, maintenance, management, taxes, insurance all of these items will affect that 10% hypothetical return.    

Yes, use it from year one, because when you sell you will have “recapture”, pay taxes on the amount that depreciation would have been,  for those years of depreciation whether you deducted them or not.  

Can we Non Resident Aliens use Standard Deduction now, as it is the only one left and in theory it should group the old Personal Exemption?

I take the ARV and deduct all of my known expenses and assume a worst case scenario where I have to replace everything, then my top bid is breakeven.