Basically questions that the PM/co-host need to be able to answer without having to do any deep-dive analysis.Property-specific questions such as property improvement advice, revenue potential, etc. that involve deep-dive analysis might justifiably incur an up-front cost depending on the PM/co-hosts business model.

Our team transformed the property by investing $35,000 in targeted renovations, focusing on modernizing its appearance and improving functionality.

Marketing and home improvement activities may count as well, provided they are directly tied to property operations.2.Time Spent by OthersThis ties back to keeping a logbook.

If I understand correctly you'd be purchasing the land, and improving it and splitting it into the appropriate "buildable lots". 

Property value is land + improvements (the structure). 

But we already get deductions for maintenance, repairs, and improvements.

I will figure out what to do with it when I get to $20M, but it will probably just be finding new ways to improve built environment along with travelling more and spending more quality time with fam. 

I'm sure the numbers look bad, and they think they can improve them, reno and increase rates by 25-30% and that is the business plan. 

Ultimately I had a vision for how this particular home could easily be improved and rented for top market without much headache.How did you find this deal and how did you negotiate it?

Many investors make the mistake of over-improving their purchases in Class C/D areas, which when damaged by Class C/D S8 tenants - costs them thousands.Another fallacy of S8 investing is that the S8 Caseworker will keep the S8 tenant inline by threatening to take their voucher away.- The reality is this depends on each individual caseworker.