Getting distracted and sidetracked is totally normal as you get started in this business.

Here are my comments on the analysis, not the deal.We need to know the total dollars you are bringing to this deal. 

Expect additional closing costs around 1-3%, roughly $3K-$9K off your total.

I suspect the total value of the property and structures here will be appraised for 850k-1 million.

But obviously it would be better to pay capital gains instead of depreciation recapture. 

. #3) See Above#4) Again, consult with a professional but some of the obvious differences that come to mind would be the needed coverage for your contents (personal/business property) as well as the liability differences. #5) We cannot speak to the claims questions.

That’s 2100, 2200, 2300, 2400, and $2,500  for years 2-5 (obviously actually more with increases on the increases.

I totally understand the different answers and will try to analyze the best way possible.

When two separate plumbers looked into the issue they both determined the shower needed to be replaced because it was improperly installed (by prior homeowners we purchased it from) causing the leak.As for the length of time the repair will take, it was 3 days total to rip out the shower, install the new concrete pad, install the new shower, etc.

Quitting your job to do real estate full-time is obviously attractive.You could listen to all of us telling you not to do it, but sometimes you just have to take a chance and make the best of it.There's a lot of successful people that didn't know they could fail and succeeded despite the odds.