The available Labor force will shrink dramatically and the cost of services will increase for landlord and other industries.

Materials will be about the same, but labor may vary greatly on location.

Interior PaintingScope of Work:Paint all walls, ceilings, and trim with neutral high-end paintUse two-tone color scheme for added eleganceEstimated Cost: $10,0005.

Trying to get a # from him about estimated remaining cost but got nothing.   

A cost segregation study was performed on this single family home in Iowa City, Iowa with a depreciable cost basis of $649,900.

(after I deduct all the labor/material costs). 

However, the depreciation claimed while the property was a rental must be accounted for upon the future sale of the personal residence, which could increase your capital gains tax liability.The adjusted basis of the property (original cost minus depreciation) will be used to calculate gains or losses at the time of sale.

If you were able to increase the value of the property significantly after the rehab, then you could bring the deal to a community bank  to refinance and take the hard money lender out.You keep all the equity and don’t have to file a partnership return for your annual tax return, which can be costly.  

Using the appropriate amount of lights and mirrors is a pretty low-cost way to really make the space feel custom.Unique tile installation patterns such as vertical stacked or herringbone.

During this renovation period would you, as the lender, want an Actual Cash Value or Full Repair Cost policy in place?