Sounds like you need to have a relationship with a couple of good contractors, 40k for vinyl siding sounds high, what was the material cost.  

Costs before that (during remodeling) are added to the basis.2.

Quote from @Devin James: Im currently learning this lesson with New Builds that have taken twice as long to complete than anticipated.....Finishing a Real Estate project ASAP is critical because...1) Holding Costs add up quickly- Loan Interest- Property Taxes- Insurance2) Investor Capital- Our financial projections are dependent on how fast we can turn our investors capital.

Do you give up $100 to the new investor?  

Here are additional comments:1) Buying out of state removes any local knowledge you have from assisting in your success, including knowing areas, people and costs. - We always recommend buying your first rental locally if possible and DIY managing to learn as much as possible before investing OOS.2) Lots of crooks and incompetents in the PMC world:( They both cost you money.- As already stated, you'll have a small portfolio.

Instead, shut off the water to the toilet and place a sign on the door "Art exhibit: Non-functioning bathroom."

This has driven up the property taxes there. 

Look up Ricky Carruth.

I see a ton of sellers and listing agents overpricing homes and end up with big "price drops" back to reality. 

Many will provided exaggerated numbers or omit information up front.