Looking at purchasing small 3 BR 1 BA house.

I own 27 properties in Greater New Orleans (36 doors) and wholesale around 50 houses a year in this market. 

I'm thinking of maybe just lumping them into a category under repairs or something but want to see if others have a It sounds like categorizing deductions under a ‘repairs’ category could work as a temporary fix, but it might not give you the full accuracy you’re looking for long-term.

Each area has its own rules on how it works, but basically, you buy the house, pay a deposit and agree to rehab the house within a certain amount of time.

Current house is 2500 sqFt 4 bed 2.5 baths. 

But, you still own house and benefits are as follows.1. tax benefits2. principal payoff on your note.3.

If the house is older than 15 years old and n ADU is added, it can become rent controlled.

How about repairs ?  

What are the odds your house burns down or gets hit with a tornado?  

Over the years every single time I went over his house to hang out we would talk about money, investing and the future we were building.