Yesterday, I posted my standard notice on the front door advising the occupants that the place has been sold, to call me, and that if I don't hear back, I may initiate an unlawful detainer or if the place is vacant that I may change the locks, along with a copy of the deed.The property looks barely habitable (hot water heater is on the back porch (which looks like it's about to fall off its rotted post foundation), sheets of drywall and plywood out front, tons of beer cans and collection notices on the front door, and rotted siding/wood on one side of the house.

I invest using BRRRR and what I've seen lately as the biggest obstacle to that strategy, has been the initial hard money lenders, with the recent market changes this past year are doing lower ARV percentages ...example going from 80% ARV down to 65-70% ARV to mediate their risk, requiring more out of pocket initial money's. 

It's higher was quoted to me initially using their "software" 

The original invoice does not state about the initial shower tub repair.

I overlooked including these details on Schedule E when I initially filed my taxes.Any guidance on these matters would be greatly appreciated.

It's essential to evaluate each deal individually, considering factors like your specific market, property condition, and your own risk tolerance.Here's a quick summary of what you might do:70% Rule: Use this as your initial benchmark to assess deals, especially if you're looking at traditional financing with 70% LTV as a goal. 75% Rule: When you have access to lenders offering DSCR loans at 75% LTV, adjust your analysis to match this new lending option.

Take your monthly cash flow and rather then dividing it by your initial investment (which gives you ROI), divide it by your current equity.

I had initially asked this question as my parents did not owe anyone for anything. 

So if I buy his property today, I would have to add the $13,500 to my initial $4,500 to close the deal.

You will almost always pay more than you initially planned.