Since my labor is "free", the majority of costs could be bonus depreciated (LVP) separate from the building or small enough to be considered Repairs or Cleaning and Maintenance.I'll probably run my reasoning and numbers by a local REI CPA to see if anything raises red flags though before filing.

That’s a bigger red flag to me than a cat.

I am in need of help of vetting a lender, I have a contract signed and closing is soon but giving me some red flags. 

@Adam VendittiI am with @Andrew Freed on keeping the home. 4 green house & 1 red hotel, as Robert Kiyosaki says… that’s the path/game if you are looking to build wealth.

There should be no COVID related issues for any of the exterior inspections so that's a red flag for me.

Congrats on at least starting from zero - a good number of people who land here are starting from deep in the red.

To me, since the listing shows an fairly updated home with the DOM creeping up, that would be a red flag that the ask price is high. 

(Would break even or be in the red until our loan is payed down a bit).

One problem I see is that due to the red tape involved with these loans I may miss out on a deal while waiting for approval on one of these loans. 

I'll add some red-neck talk for the white-collar folks who have made a comment on this subject.