I have section 8 tenants in my own properties (upstate not NYC) and all increments must go through their case manager (on top of abiding by standard NYS notification procedures, i.e. notifying tenant minimum 30 days advance, etc.) 

Nine times out of ten the issues could have been resolved had they come to us to begin with and had us work with them to create asset protection plans and compliance procedures that would have resulted in a summary judgement or some kind of dismissal for the underlying lawsuit.

According to the search, this has been a problem on this website for years and it seems like it should a very basic procedure.

They'll be able to answer all the questions you have about procedures and the required paperwork.

You need proper screening procedures.

@Dave Row yes, that is exactly the correct procedure for the BRRRR method.  

Plus, there's no one set of rules; there are different types of auctions and there are different procedures in different states/cities.You can search (use the search bar, upper right hand corner) on any of these terms and find some interesting previous discussions.

Something that I have noticed, and THIS IS NOT LEGAL OR PROFESSIONAL ADVICE, is that only a small percentage of the opinions that I have collected indicated that I should unequivocally adhere to all permit procedures as set out by the city. 

The safe harbor applies to amounts paid during the tax year to acquire or produce what the regs call a “unit of property” (UOP), you must meet these requirements: (1) at the beginning of the tax year, the taxpayer has written accounting procedures treating as an expense for non-tax purposes amounts paid for property costing less than a specified dollar amount (which will be 2500 for you), or with an economic useful life of 12 months or less;.(2) the taxpayer treats the amount paid for the property as an expense on its books and records in accordance with its accounting procedures. ( do this on your bookkeeping software or whatever you utilize)(3) the amount paid for the UOP doesn't exceed $2,500. as substantiated by the invoiceNote: The cost for the Unit of Property includes l additional costs (for example, delivery fees, installation services, or similar costs) if these additional costs are included on the same invoice with the tangible property.Eg:A purchases 100 printers at $500 each for a total cost of $500,000 as indicated by the invoice.

In your case, judging from the amount looks like you can deduct the cost of the rehab as expenses using de minims safe harbor rather than capitalizing and depreciating it.The safe harbor applies to amounts paid during the tax year to acquire or produce what the Regs call a “unit of property” (UOP), you must meet these requirements: (1) at the beginning of the tax year, the taxpayer has written accounting procedures treating as an expense for non-tax purposes amounts paid for property costing less than a specified dollar amount (which will be 2500 for you), or with an economic useful life of 12 months or less;