Strategy is long term hold.Question - Apart from getting inspections done by a quality inspections company, what other items do I need to verify or consider as part of due diligence, before closing or in order to decide Go-No-Go?

Looking back at 2022, one of our largest line items was marketing expense for our new location.

Always account for the costs of upcoming capital expenditure items in your purchase price.

We're currently looking for ways to streamline supplies for cleaners (toiletries, towels, item replacements) and handle small handyman issues.

.: BRRRR have some items that flips do not (plus most of the flip items):- refi appraisals in my market are conservative.  

My only guess is your CPA is thinking this is a rental, where you can depreciate certain items, and expense others against "this years" income.  

You can definitely still write off mileage and many other items on your taxes without being in an LLC.

As we sell through these items should we create a bank account with the llc to "season" the capital for when we are ready to reach out to a lender when we are ready to make our first investment?  

It's important to have your attorney review the title commitment, as I've seen "wholesaler-friendly" title companies include various items in the title exceptions that could cause problems later on. 

Once the option period is up, cancellation would only be for items specifically named as contingencies, such as financing.