Standard 203(k) Financeable Repair and Improvement Costs and Fees The following repair and improvement costs and fees may be financed:  costs of construction, repairs and rehabilitation;  architectural/engineering professional fees;  the 203(k) Consultant fee subject to the limits in the 203(k) Consultant Fee Schedule section;  inspection fees performed during the construction period, provided the fees are reasonable and customary for the area;  title update fees;  permits; and  a Feasibility Study, when necessary to determine if the rehabilitation is feasible. 

There are no carpet or upholstery in the home that were supplied by me.

The bottom line is, I began to ask, "What does a professional investor do differently than a side investor?

Case and Point on why you have a professional do it....

A little bit about me...I'm an IT professional who's ultimate goal is to quit the 9-5.

We are a community of families, doctors, teachers, professionals, business owners, and we stick together in the hardest of times (remember most recently the Oct 1 shooting #VegasStrong).

These are professionals with additional training and a stricter code of ethics.

Completing this form is very tricky, and I highly recommend you leave it to a tax professional who has done it before.Yes, there is some audit risk involved, but not much more than your usual risk of simply being in business.

Changing light fixturesI’m pretty handy but not a professional construction background.

I think every real estate investor wants to be a full time guy because this is very enjoyable, there are lot of pros to being full time, here are some of the cons you should address 1) Finding the deals - As long as you are a passive investor if the math works even a 100$ cash flow a month is okay on the side, you can buy your properties from MLS but when u are a full time investor you need a lot more cash flow and lot better deals.2) Sourcing Finance - Banks look for W2s when you ask for money, you should be lot more creative and risky as a full time professional to source funding.3) Market Cycle and Current Market - Markets will cycle and as much as I know most areas are turning into sellers market with low supplies, how do you tackle that?