-One of the cheaper options I have found is TaxAct Business ($140 + states), and TurboTax Small Business ($739 + states).The issue I am potentially running into, and I am not sure if the online software's mentioned above can handle (they won't tell me unless I pay for advice), is figuring out how to make sure the losses/initial capital contributions are reflected on my K-1 and not my business partner, since I made 100% of the contribution.

ya it will be illegal for sure in the next 5 to 10 years and for many reasons.. not to mention predatory and unconscionable profits.

But you also mention "Compare being able to write off the $370,000 today versus having to depreciate it over the life of the asset - 39 years - that’s quite a difference!"

Your answer might be enlightening.PS---you mentioned that your mentor has been doing creative deals for 30 years....It is possible that the rules have changed and he/she has not. 

For vacancies, you deal with them as they come up...or as Bill mentioned, hire a good property manager.

@Elizabeth M Gunther please mention the propeety managenent company to save others a heache as well also have you found anyone new ?

Agency debt is mostly teaser stuff that very few people qualify for, so I'll not mention those rates in this post. 

Brand mentions, impressions.

I get builders risk policies for all my new builds and at least in the markets I built in Charleston SC  and Portland Oregon have never seen the fence and security and like you I would have trusted my broker to mention something like that.. fence and 24 hour security is just not something you do on ONE SFR rehab.. unless its a known high crime area like South side of chicago and now inner city Portland you really need the fencing etc other wise the homeless and druggies will walk off with everything.. when did a bunch of rehab loans in South Jackson MS same thing theft was off the charts and we had houses burn down .. but the dollars were much smaller.I know I have gotten larger policies for my bigger developments and I did pay my lawyer to go through them line by line and at the end of the day they really cant say what is or is not covered.Also you simply would not think of anything in Colusa county as being high crime .

As mentioned, there are 2 major approaches: contractor or DIY to resolve.Contractor: Get bids and charge the tenant what it costs you.DIY: Tally your materials and labor cost, then charge your tenant.