If you are careful, you try to over-budget with a buffer, and have a detailed scope going in, you have an opportunity to not only get the renovations done and create some equity but you eventually will be able to find opportunities to make the rehabs more efficient and create another source of leverage for yourself.

Then those activities you listed become the safety buffer that you can lose in an argument with the IRS and still have 750 hrs.Also, there's a controversial issue about an election to aggregate.

Pretty overkill, but gives enough of a buffer I don't think we would need to worry.I really think I could make do with less, however these amounts would make me feel comfortable leaving my full time job if my primary house wasn't paid off. 

Create a buffer.

Typically the investor should be insulated by not only the preferred position but the buffer of income above this preferred position which belongs to the general partner.

If you have a decent buffer between the rent you collect in today's market and the PITI payment you will be well served. 

As a friend and mentor and BP podcast guest once told me, cashflow is just your buffer; equity is your wealth.

A buffer was built and growth, funding, jobs transportation, etc. were all funneled away from North Memphis, Frayser in particular.  

Now you could add a 30% buffer just to be safe.

The DC area to some extent will be buffered by the Federal government and some areas I imagine tech-heavy areas where many people can work remotely may fare better than other areas.