For example, a quick "back of the napkin" conceptual estimate (WAG) suggests the following:Appliances (dishwasher, refrigerator, stove, hood):  $3,500Kitchen sink, disposal and faucet:  $500 (material only)Kitchen hardware:  $200 (material only)Kitchen cabinet restoration:  $3,000Kitchen countertop restoration:  $1,500Plank flooring:  $3.50/SF x 2,000 SF = $7,000 (material only)Electrical rehabilitation (including light fixtures):  $4,000Plumbing rehabilitation (including toilets, faucets & shower):  $3,000Bathroom tile (2 baths):  $5,000  New roof:  $10,000New siding:  $6,000Paint (outside):  $4,000Paint (inside):  $5,000Staging: $1,650TOTAL:  $54,350This estimate does not consider any cost associated with building permits or design professionals. 

Remove garbage disposals, etc.

I'm still quite new and inexperienced in the investment world.Currently I'm looking into expanding and building up my portfolio with MFH/Commercial in B/B+ neighborhood with some disposable W2 income.

Are you being billed the $50/h rate at a prorated rate or are you handing over $50 as the minimum for such a callexample 2: a garbage disposal needs replacing.

If you are dealing with partners, I would highly suggest creating an LLC entity AND have it include a an operating agreement that covers who does what and how you will eventually dissolve the company/dispose of the property.Disclaimer: I am not an attorney nor do I play one on the internet.

They carry forward indefinitely until you have passive income to offset or you dispose of the 'activity' (i.e. the property).If you're below $150k in AGI, you may be able to use some or all of the tax loss from the rental to offset other taxable income if you can substantiate active participation."

I know how we handle this issue in our own house, but that requires us to occasionally dispose of a dead mouse, something a vacationer is not going to want to do. 

Mine is a nearby young Grandma who watches the grand babies and likes to have disposable cash from visiting my property 2-3x a week for an hour.

So much of their disposable income is wasted on alcohol, cigarettes & lottery.

That enabled them to dispose of an abandoned, non-operational vehicle more quickly, vs. other tow companies that would have to store it for some time period in case the owner claimed it.