For reference sake, local factory workers and starting teachers make between $41,000 and $60,000 in one of my local communities. 

The renos are usually around 100k when it costs about 5k to buy just for reference, but they come in all shapes and prices.

Evan, looks like maybe what your referring to is that any personal property is classified as sec 1245 so the recapture on that portion is taxed as ordinary income (and rest of property is taxed differently). 

Here is a reference that explains:https://www.nolo.com/legal-encyclopedia/intestate-succession...2.

Speak to their references.

I have a lawyer reference in NV that will give you a few minutes of time and they specialize in setting up LLCs.

From there the lender will send someone out to confirm that 10k of work has been done (using your provided rehab budget for reference) and then send you funds accordingly.

This is especially true if the CC&Rs do not explicitly mention short-term rentals1.Bed and Breakfast Clause: The mention of “bed and breakfast” typically refers to properties that operate similarly to a commercial establishment, offering lodging and meals.

I think this would make sense in the long run for the rental property as it will extend the life of everything it touches like the Sink, faucets, showers, water heater, dishwasher, and Clothes washer while also providing clean drinking water in addition to the reverse osmosis drinking water system I already have installed.The main problem with this hardness level is that we get a major deposit buildup on all of these items, which will eventually clog up the faucets for tenants and lead to rusty shower enclosures that take forever to clean.In addition to this, it looks like we could likely have the salt added every couple of months by the property managers in addition to that it would allow for a quick inspection from them, and then also we would instead bill the cost of the service onto the ledger for the tenants.For reference, it does not look like the landlords in the area have water softeners.Thank you everyone for your input ahead of time.

Bankers don't like to say know, so they like to refer the deals out to people like us.