@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. 

So you find a property where you can renovate the units, capture large rent increases, and refinance your equity out or sell for significant profit.

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.

Do not buy this as an investment property with a $50k CapEx item coming at you in 4 years, @Patrick Rafferty.

If it is a personal residence, there is a chance that she will itemize instead of take the standard deduction.

I have created a spreadsheet trying to capture the points that Brandon Turner describes in his book as being analytical points to quickly screen properties as potential deals just based on what you can get from seeing the home on listing sites. 

Since I pay my contractor on a job by job basis, what I would like to do is assign these items to specific weeks they need to be done.

So if you have no LLC activity and you're going to file a Federal individual tax return what additional items would need to be reported for Federal tax purposes?

The IRS defines home acquisition interest (which you can take as an itemized deduction) for your first and secondary residences as debt used to buy or build a home, and should be secured by THAT qualified residence.