Also, you can't know how the cost of materials could fluctuate over your project time, so consider purchasing any materials upfront so you can stick to your budget. 

You have material information that effects the desirability and value of the property.

Get something durable in a color that does not stain easy and a material that can be scotchguarded and you will be good for several years.

Pretend your getting the hardest rain you have ever seen and imagine where the water is going.I would also keep an eye out for sewer lines and type of material.

@Scott Trench - have you considered investing in short term rentals, materially participating, and having the average stay be less than 7 days?

Quote from @Mike Levene: contractors should give exact quotes, come in give you a full detailed list of how much it will be to cost for labor and materials broken down.

We can produce building material here.

Biggest things you’ll want your cpa to guide you through;Material participation- there’s three tests; 500 hours; 100 hours and more than anyone else’s time, and substantially all the activity.

If you continue using it as a rental but reduce STR activity below the material participation threshold, your deductions may become passive and subject to loss limitations.2.

Platforms like Procore, JobTread, Buildertrend, and FlipperForce have caught my eye, but I want to make sure I’m considering the best fit for my needs.Here’s what I’m looking for in a solution:Cost Estimation: A tool that accurately calculates material and labor costs.Project Oversight: Features to manage tasks, schedules, and budgets efficiently from start to finish.Vendor Integration: Real-time updates on pricing and inventory from suppliers like Home Depot or other suppliers.Material Suggestions: Automation or recommendations based on the rehab’s scope and specifications.Labor Planning: Tools to predict labor hours and staffing requirements for each phase of the project.For those of you who’ve used any of these platforms (or others), I’d love to hear your thoughts:Which software have you found most effective and why?