Hello Sham, the fact that there is no lease agreement is really rough because that information is basically always in the lease. 

I was caught in a probate case on a note I owned where the subject property was located in Dallas.  

Better to jump all in and see if you want what you think you want ....

Investors and homeowners: Timing is everything. What if you could secure your next property before selling your current one—without the stress?

I read about a woman who bought a foreclosure for $50,000 cash in Florida, then she immediately found out it had $150,000 in liens.

It might help you avoid penalties if the IRS goes after you later.You can claim the labor expenses even without 1099s, but you will technically be in non-compliance.

.✅ Investors - Keep detailed records of ALL rental property expenses to reduce your taxable income - helping your CPA spot additional tax saving opportunities.Imperative to use a CPA who is well versed in Real Estate tax code.My CPA is just that - DM me to get his contact information....

If you are looking to hold the property in a long term loan after the remodel, DSCR loans can be a good option.

I personally own/live in a historic home and I can promise you this: it will cost you more - a lot more - to renovate and maintain the property. 

No problem I have been doing for over 18+ years so there are a lot of loopholes in the business.