That being said, claiming losses in excess of $25k may very well trigger an audit, particularly since you filed an amended return to claim the benefits.

One precaution I do take though is not leaving excess funds in there in case of fraud. 

NO ONE can come to you and demand more for their house when your offer is fair, legitimate and realistic... becuase they KNOW damn well, that their kitceh is not in that perfect shape they thought it was just before they themselves made themself realize that dang.. my kitchen really is a old piece of crap.Once you go through that stage.. you schedule a walkthrough where you confirm everything and make them on offer.And that is all there is to it.Yes yes, I am awesome..

I am a new investor with one Miami, FL property that's in a nightmare rehab stage. 

In the end, I feel that these costs shouldn’t be considered unless they are excessive, however one would define that.

When a tenant moves out, transfer the deposit back to Checking so it's ready to apply towards expenses or to refund to the Tenant.If you end up with excess funds in the Checking account, I recommend you transfer it to a third account that is specifically designated for future investments.

Depends on the foreclosure stage, but the cleanest stage will be on the MLS just like a normal listing most of the time.Rob

Kept in mind to not renovate out of the neighborhood and market it professionally (photography, staging, etc.) when finding tenants.

Far too many get stuck in the "paralysis by analysis" stage, thinking they just don't know enough to get started.

Far too many get stuck in the "paralysis by analysis" stage, thinking they just don't know enough to get started.