If you gift a house, the fair market value (FMV) at the time of the gift applies to the lifetime gift limit—not the amount you purchased it for.

This is an obvious fair housing law violation because you are choosing which prospect get the concession.

I am fairly new at being a Landlord.

Most likely all new mechanicals, windows, a fair amount of framing, insulation, etc., etc.

I included stats on percent unleveraged purchases and that many of those fairly low percent cash purchases in fact use unseen leverage HML, private lending, etc and some are short term cash holds such as a flip or a brrrr that gets financed not long after purchase.  

You need to be able to change keys in between tenants to maintain access control and the security of your property.

Being a rehab loan it was still fairly expensive.   

Its a fairly common strategy.

Feel free to reach out though if you have specific questions, it is fairly common!

This allocation should be based on the fair market value of each component, typically determined through an appraisal or the values agreed upon in the purchase agreement.