Initial rehab estimates on this 1920 four-plex were too low.  

THat's where I'm confused... seems like the deal makes sense initially but once i refinance to the new mortgage, the appraiser sees the new value and that's then what they will use next year for property taxes, right?

Initially our landlord (or representative from the real estate organization our building is owned by) was responsive and told us that she would send out a maintenance repair which didn't arrive until I followed up with her a little less than a week later about an update.

Initially our landlord (or representative from the real estate organization our building is owned by) was responsive and told us that she would send out a maintenance repair which didn't arrive until I followed up with her a little less than a week later about an update.

I am interested initially in whether or not I could at the bare minimum write $25,000 of deductions FROM the rental property to my personal income. 

Here are a few options:1)HELOC for repairs and flip it for profit2)HELOC for more rentals and hold current to pay off HELOC3)Seller finance to reduce tax obligation and receive. a large enough initial downpayment from buyer to use FHA for a primary4) Hold and use cashflow with the specific intent to invest all residual income5) Sell and take "Capital Gains" hit but purchase another property to help offset it6) Transfer deed to an LLC to remove it from Grandma's name (this opens another door of possibilities but may trigger tax increase due to transfer of ownership)I can go on, and others with different approaches can add to this list as well.

@Lucas MilburnHere are some initial high level considerations:•Potential investors with retirement funds can invest those funds via self directed IRA (or if they are self employed, a self directed 401k).

Think of this as your "due diligence" if you need to spend a few bucks to talk with a local real estate attorney (although some of them do give free initial consultations).https://www.richardhornsby.com/crimes/regulatory/unlicensed-practice-of-real-estate.html

Any guidance will be much appreciated.Here are some initial questions:How do I estimate the cost of insurance?

It's definitely not fair but she will likely say that it is based on other aspects that were not presented at initial showing.