If so, they all have / bring it's own set of questions, guidelines to know about.#4 - Have someone local that you trust, go over zoom and get to ask them question.

Are there any guidelines or best practices (ie: rewiring such a property would be more valuable than updating insulation).Is it something you need to ask the insurance company about to get, or is all this determined in the initial interview with the potential insurer?

I admit having some trouble searching for team members in the forum so hopefully BP guidelines will allow user referrals or intros.

If so you need to fall into the guidelines (for the investor whos funding it) regarding non arms length transactions.The most common scenarios they typically prohibit are:- Gifts of Equity- Bailouts- Leaseback OptionsAt the end of the day it needs to be a legitimate transaction, with legitimate funds coming into close.

Because I'm not an accountant or versed in tax code and law wouldn't I want a CPA to ensure everything is legally tight and as advantageous as it can be? 

Trying to pay the least amount of taxes legally possible. 

Hi @Kenzer Hodgson to @Sarah Kensinger's point above, I'm not a fan of so many people spreading legal advice/insight on the forums, but at least it's better than Instagram/Facebook and YouTube. 

There are general guidelines but nothing formulaic. 

As Vince said it is a quick guideline and won't work in most places with current interest rates and house prices. 

The IRS publishes guidelines on what makes for a good cost segregation analysis. https://www.irs.gov/pub/irs-pd...