You pay taxes on your net rental income as you described and it’s ordinary income taxed at your applicable effective tax rate.  

But because of recapture, capital gains tax differential as to ordinary income, ordinary income, earned income, investment income differences, retirement funding, 1031 exchange deferrals, 401k deferrals, etc. the world of tax minimization become VERY COMPLEX.  

I need to replace a failing retaining wall (~10ft high) that supports a pool patio on a hillside property in Pasadena, CA.I don’t think I need civil since this is a replacement project.

Generally speaking... 1031 exchanges are meant to keep you from paying capital gains taxes (15%) not ordinary income. 

I nicely called it out and he stated "I need to take measurements to provide itemized cost estimate, it will take weeks so I'm just going to pass on this project".Is what I requested out of the ordinary?

They're just ordinary locks. 

It sounds like she does flips (and pays lots of ordinary income tax) to finance her buy and holds (which she may or may not 1031 at some point).  

Just be aware of the rules around renting your unit since coops tend to have greater restrictions than condos.  5 out of 50 doesn't seem out of the ordinary.  

It seems like you're too far along into this to have no idea of your closing costs, even though they are of course based on your purchase price combined with your Reno costs, probably 5-6% of the total.  203k loans Do carry a half percent higher rate than ordinary FHA loans.  

Custom cabinets and quartz counters, Viking appliances, hardwood floors throughout, iPad station, ceiling mounted speakers & stereo system throughout the house, yamaha outdoor speakers for the patio, all rooms were prewired for cable and internet, jacuzzi tub for the 2nd bath, venetian plaster in all bathrooms, and the list goes on...We set a record for sales price in the neighborhood which is always a good thing.Purchase Price: $488kRemodel Costs: $149k (Includes labor, materials, monthly expenses, etc...)Commission Costs: $18,725Sales Price: $749,000Profit: $93,275BEFORE PICSAFTER PICS