It will be done correctly every month and during tax time, you and your partners can easily have to CPA/book keeper issue 1099's and get your taxes filed on time with all the right deductions.

The very first house AKA house 1 I bought back in 2011 was a foreclosed property that i purchased for around 74k if I remember correctly.

The permit will ensure 1) that this work received maximum valuation 2) that it is not red tagged later 3) that the work is likely done correctly. 

It was quite a production and took a week if I remember correctly.

In the latter case, you must have a very different conversation and correct your tenant's bad behavior.The least likely scenario is neither of the above, but the flooring still needs to be replaced.  

The market is correcting itself again and it will reach equilibrium at some point.

But you just don't learn enough, let alone have enough experience to to it correctly and successfully from just taking a guru seminar, or buying a mentorship.  

We removed 4 walks (including load baring), installed 2 walls, added half bath, replaced all plumbing and electrical, added new eye brow porch, painted full exterior (changed color), replaced all flooring, new bathroom and kitchen layout with everything replaced (shower, cabinets/vanity, counter, appliances, etc), stocked with new furniture, added mini split, removed gas/wood fireplace and added a new electrical fireplace, and placed initial STR tenant in 2 months and 1 week.  

If I'm following this correctly, the 1st issue I see is that you have an "active" business (consulting) versus a "passive" business (the rental property, assuming you don't do hands on management, etc.)...this would be a separating line for many people I've talked to about this. 

Also, Adam is partially correct, but that can be messy for you and the tenant.