This allowed me to proceed with renovations and my exit strategy (If the property would not have sold within the first 60 days after finishing renovations) was to rent rooms in the apartment as a mid term rental, to young profesionals, which is very popular here in Valencia Spain right now; we call those shared apartments, co-livings or HMO or simply a ¨alquiler por habitaciones¨.

@Jon Lee thank you for your response i will seek profesional advice 

It sounds like you will likely qualify for real estate profesional status which means a cost seg could benefit you.

I know I can go appeal the taxes myself, but am wondering if I would be more succesfull with profesional help.

On the whole it's a wildly UN-profesional market.

:- I have $10K saved for potential rehab- good/decent credit- Other job income (restaurant) / 45K a year- Honest, hardwork, strong willingness to learn- MS in material engineering, AA computer sience, Property Marketing savvy, Profesional presentation for resale- Local market evaluation, mls accessPLease let me know, where to find mentor, how to pair up with reliable partner??

Defiantly would let a profesional do it  if i had the cash to potentially lose.

2) I like the idea of a small team that plays off of eachothers strengths and covers the weaknesses where you can get input from more experienced profesionals but  also I can think of a bunch of reasons why taking on parters silent or not could be stressfull to say the least.  

If your person does good quality work and is profesional why not give them the opportunity.

Hello all,I am a Bilingual sales profesional with an MBA and over 13 years of sales experience on industries like automotive, advertising, and travel.Entrepreneur and college professor, and recently acquired my Florida real estate license looking to expand into the real estate industry.Very interested on learning how to best invest in real estate for personal benefit and of my customers.Looking forward to a very successful career in Real Estate!