May be worth a go with vacant land...Go to the County Assessor's webpage and look for: HOW TO FILE AN APPEAL (THEN FOLLOW THE RULES)Contact the county assessor. 

This is inline with other organizations that typically say 3% - 5%.imho you discriminate if you try to repunish anyone after they faithfully served time and are off probation. or block they only or singularly because felony. avg 25% are innocent ie 25% of all incarcerations are forced, from intimidation, lying, confession done illegally, unethically or immorally obtained at gun point fearfully wrong. if you have no 1st hand experience please do real interviews, research etc. 25% is just not all from one source  as i said its only starting point. lots felons are for weed. innocence project doesnt handle all cases but based on tiny amount they do cover for free per limited # state and dont cover all states nor have unlimited tax money like local da ag have. they are one example and only handle certain cases. you must dig deeper than one organization or one year. any cop, ag or da makes many mistakes than 1 4. https://m.huffpost.com/us/entry/us_56ac0374e4b00b0...you are ignorant blind or safety bubble hasnt popped yet. some day soon youll be in cuffs and wonder why. its inevitable in police state. and despite your lack of compassion, grace or mercy ill still give you honest chance rent. more than most  courts give people today. 

The posted value of the house per the county assessor is below purchase price but we have $40k in equity not counting what we have done to the house.

They find and fix the deals and we sign the checks.The idea was amazing for people whose time is completely eaten up by our employers, looking for a way to create retirement with rental income.However, that is not at all what he did.In reality, he found the crappiest oldest homes ( more like death traps), that no other knowledgeable investor would touch, and upsold them to us for $20-50K more than they were worth, lied about the numbers, and charged us for repairs he never did.

Fools investmentThere's a fire- cannot rebuild and investor loses everything; owner ruins his credit; injured tenant sues everyone; everyone broke.Lender calls the loan- everyone losesPaying down a loan does not reduce a payment, this is not a HELOC so that part is not math.There is zero equity to loan on, no one will loan on this.What would buyer have to do to convince a poor elderly person to take this risk- scare them, threaten, lie?

My confusion lies around the term "company applicant".  

Depending on the county, the assessor will pick up your sale price and adjust your taxable value to 70-100% of sale price.Insurance: Have your insurance broker get you a soft quote based on your lender's insurance requirements.

I think you realize now that you hired a GC that lied to you.

I am not sure how much this course was or when you purchased it, but I would evaluate your fact pattern in light of the above and self-assess or discuss with a tax professional as needed.        

And whether they find all of these little issues or not, it will still result in thousands of professional fees and many hours of your time to deal with it.Then you need to look at the other side, if you are mis-stating your tax returns, you will also end up providing bogus numbers to banks (also not a good one to lie to), potential investors, potential buyers, impacting the value of your properties by over stating your expenses...Honesty is a great policy.