Being that I haven’t done anything with taxes yet, can I count items from previous years (i.e. new roof, insulation, electrical)?

What are some examples of “luxury items” that you mentioned would not be covered by the loan?

I would then see if you can re-negotiate the contract that you're in because of the items that need to be fixed and pay for the home cash.

So by EOY, we would expect to have a balance of $15k+ to cover any items. 

If your roof starts to leak, there will be damages inside that could far exceed the cost of a roof replacement now.As for the other items, they appear to be cosmetic.

I obviously did not add a line item for vacancy costs that's something that I will need to account for as well but according to my buddy who is a General Contractor, the renovation that I’m going for should be feasible with my budget and a 12 week timeline.My thought is to then refi after a while (likely 1-2 years) and pull out somewhere between $30-$50k and then use that do fund my next deal plus the nearly $1,400/month that I’m saving from my current situation.

@Sydney Sherman while I understand the underlying thought and care process'  people have when they go to solving something via some form of payment, but on the psychology level it's just money which is such a nothing item, I mean it's not personal in any way, it dosn't convey care or consideration, it's just money, and often people are impacted in that way. 

The property does need a bit of work (renovation of bathrooms, kitchen, flooring, any major items tbd after inspection, just to name a few).

If those 4 items are met a napkin would suffice.

After a lot of digging, found an ongoing case through casenet between the owner of the property and a debt collector.