We offered 407 and asked for closing costs.

Oil heating costs are outrageous and you also have to deal with leaking tanks which can be a nightmare.

You are correct in your assumption that it will impact how low they can go on the down payment, though, b/c commissions will need to be paid out of closing costs. 

Great reason for not pulling deductions forward.I have been retired from a W2 job for some time and my income is at an all time high and will just keep going up with more RE investments. 

Quote from @Jeffrey Duck: I see no reason to pay an attorney for this, but it's your dime.The current lease was between you and Person B.

Hi Robert, I always look at the rehab and deciding what I can do vs the opportunity cost of spending my time elsewhere.

The question is, what is the intention  of the owner, not what would a reasonable person think is the intention of the owner.

Every project needs a quote and you should be able to estimate the material costs.

This can be very expensive and is usually the worst choice because you can't justify the cost.2.

More like a 101 of taxation: you had a reserve of losses -> it helps when you have profits.And a tax geek addendum:I also do not see a direct link to cost segregation benefits here.