I used $80k to pay off personal debts and $50k to remodel it by myself with my two hands.

The first is that there's no consensus between tax professionals, and the second is that you will not like my personal interpretation.My interpretation is:Until the property is "placed in service" - everything goes into basis.Illustration.You buy a property July 1st.You finish rehab November 1st and put the property on the market.Your tenant moves in January 15th.The property was placed in service November 1st, and it does not matter that the tenant did not move in until the next year.Everything paid between July 1st and November 1st, including interest and utilities, goes into basis.

Hello @Lorraine Hadden,Agreed with @Matt DevincenzoWhen it comes to curb appeal for the purpose of selling a property, less is more.

You’re still going to be personally sued when something goes wrong. 

Are you building for pure investment purposes or are you looking to use some of the space for personal/personal business use?

The issue was a person sold their home subject 2 and the person who bought it stopped paying.

If one is transferring property title from personal name, a Grant/Warranty Deed would be drafted/recorded to transfer title. 

If you need more to do the rehab, perhaps instead of partnering, you could get your former boss to do a personal loan. 

I wrote the above for informational purposes.

What are the pros and cons of each, and which offers the least restrictions, flexibility and cost savings for my intended purposes?