You should be focusing that energy on getting your new listing up, making sure supplies are ready and really trying to figure out how your rental model is going to be better than the previous owners.

I'd recommend finding a local investor or real estate agent with knowledge of the student housing market to learn where Waterloo is on the supply-demand curve and in which direction it is presently headed.

Due to mortgage interest, depreciation, repairs, supplies, maint fee, etc.

Northern NJ's supply overall of homes is low and is anticipated to keep getting lower because demand is there, and the amount of homes on the market is limited. 

Wife also supplied receipts and invoices substantiating the hours she logged” - Source Checkpoint.

@Kellie AlkayamI've noticed people tend to sell in the end if they are expecting to lose the property.You could either tell them that you need them to pay up to complete the deal and adjust your offer accordingly or you need to close before the auction date.You may also be able to try contacting the county and see if the parcel can be removed if you supply them with a signed contract.Depending on redemption rights etc you may be able to place a lien sighting the contract to purchase if you can't stop the auction or have the ability to close.

Which means building my business into something that is much bigger than supplying my family with a good sustainable income. 

Which means building my business into something that is much bigger than supplying my family with a good sustainable income. 

Hello real estate peopleI have a situation where this year i have to pay to the IRS on taxes..Situationmy AGI income is 160k....work In IT for a big corporationi have 9 houses, i maxed out the deductions...repairs, supplys, new refrigerators....etc.......i have stopped adding deductions for the realestate as they are not dropping my money due to the IRS..on Tax software...

You don't need a shed unless you plan on keeping things in there after moving out (like a lawn mower if you plan on mowing the lawn after moving out, tools, supplies etc.).A carport seems excessive (I know it gets hot in Texas but a tenant is more likely to drive into it and knock it over - I wouldn't put anything past tenants).As far as countertops go it depends on what the current counters look like.