The bank (foreclosure property) accepted my bid after some negotiation in large part because of the diligence I had done to understand the work that needed to be performed on the basement.

One work around to the DTI issue is to go through commercial lending which would doesnt care about you as much as the actual performing asset. 

@Caitlin Wheat How has the property performed?

Davenport has some great vacation rental communities, with amazing amenities for guests that perform extremely well.

They should have tools and knowledge on how to analyze the performance and potential of a property.5.

Sometimes it can be well worth your while to pay an experienced professional and then shadow them while they perform the work so you can pick up on their knowledge.

If your partner ever what's to wholesale any of the deals he finds, I would be interested in looking at them for myself or my clients 👍🏻 Find cheap inventory in today's market is no easy task!

Some people perform value add improvements to increase rent and cash flow. 

Allocating non-common expenses (i.e. repairs) - depending on which unit(s) work is being performed for repairs, you may be able to deduct a portion of it, none of it, or all of it. 

Additionally, we perform a 6 month inspection six months after move-in.