Can you have a look at both of these worksheets and let me know if you believe any of these assumptions are off from a general rule of thumb point of view.  

Capital Expenses, items that are not just consumables like appliances, roofing, AC, all have what is called a Class Life and get depreciated according to IRS rules for that Class.  

I just ran a property that I would love to buy if I can find the private money or possibly the hard money at the right rate and ran it through the BRRRR calc.All looks great except when I look at the financial projections section I see the following...50% Rule Cash Flow Estimates Pre-Refinance Total Monthly Income: $2,850 x50% for Expenses: $1,425 Monthly Payment/Interest Payment: $600 Total Monthly Cashflow using 50% Rule: $72 50% Rule Cash Flow Estimates Post-Refinance Total Monthly Income: $2,850x50% for Expenses: $1,425 Monthly Payment/Interest Payment: $556 Total Monthly Cashflow using 50% Rule: $869Am I missing something or should the total monthly cashflow Post refi be that high?  

The tenant must also include evidence supporting the claim of protected status.

I'm curious, when you're budgeting for actual construction costs, do you have a rule of thumb you use to estimate?

He said there is only one rule you need to know about being a landord "if they can not pay one months rent they can not pay two".

The electrical wiring is a mess, there is significant evidence of water intrusion, and there are improperly installed support beams.

Medicaid rules keep evolving, and states all differ in how they set up their programs, some do it well, others just create big bureaucratic mess.

I am looking for more info on rules and legality as well, to ensure I am doing things right. 

So Alex the problem is you are trying to fix debt with more debt and no income to support any debt.