Once converted to a rental, repairs and improvements may qualify as deductible expenses, but pre-conversion repairs typically do not.

Way to many investors were buying properties for more then they were worth with hopes of collecting MUCH MORE than market rent.

Suggest you check in with him/her on this additional service as your attorney is already intimately familiar with the file and you can often give them pre-authorized amounts to settle on vs trying to squeeze all the blood from that turnip. 

I'll hand it to Pace Morby tho- he is an amazing marketer. 

Or do I look into a market like Las Cruces, NM, or Lubbock, TX, as an example of bigger markets I have looked at and am somewhat familiar with?

Make sure to research lenders, get pre-approved, and calculate your potential ROI before bidding. 

@Anthony Becerra I believe you are looking for a pre-approval letter.

@Jeanette Land I work with clients in 11 markets across TX, OK, MO, TN, AR, and AL finding them turnkey properties for their portfolios.

@Anthony Sigala that "Rule" was created for mostly Class B properties BEFORE the Great RE Crash of 2008-2010.Values after the Crash dropped so much, that it could also be used for Class A rentals.Values are now more than their pre-crash highs, so the rule now only applies to Class B & C rentals.How are you identifying Class B & C submarkets in your area, so you can properly apply the rule to the right rentals?