The previous tenant violated the lease and smoked in the basement.

We also are very stringent on who our tenants are (no pets/smoke/etc.), and we have each unit professionally cleaned once a month or once every two months.

Not a hard and fast rule, but a noteworthy observation from someone who has a large book of business.Your accountant is blowing smoke on that last part S corp compensation is a HUGE audit area and especially with the new 199a becuase people are manipulating it since the calculation interacts with that 199a deduction too.

Hello All - I'm under contract on a townhouse that was smoked in for 18-20 years.

If they smoked, and walls have nicotine stains you can charge to prime / prep walls for holes.

Any other pet add-on advice is appreciated.They are smoking on the patio, also expressly against the lease terms.They are into organic gardening, which is fine, but has resulting in a bit of a swarm of fruit flies in the dining area.

Paint with specs approved by client. 9- completion package: includes; light bulbs, exterior flood lights, Orb Doors stops, smoke detector in each room, co2/smoke combo detector in hallway, electrical cover plates for outlets, switches, Gfci's, all new vent covers.10- Mid Range lighting package: includes a fan in each bedroom (3 total) fan in living room, bathrooms lighting (3 total) flush mounts in hallway, laundry room (3 total ) Dining room light ORB11- hard wood floors: repair kitchen hard woods and install new areas that have been damaged throughout the home.

Which as stated is about as tough to break into as anything in this bizzness since there is no leverage and it requires a boat load of cash.. its not a smoke and mirrors talk some little old lady into selling her house for less than its worth  LOL.. here we simply buy assets at the sheriffs sale no mystery just as I said a lot of leg work and you must have ALOT of cash to make a business out of it.. and I am not talking hundreds of thousands in my mind to make a business if you cant put 5 million in cash into play your not going far.. because other than your mom and pops that's what the other pro's have to work with.

This project could be dead in the water already, I'm not sure what my partner and his contractor were smoking when they thought this house was only a 90-100k reno. 

Most of the "holy smokes that was a slamming deal!"