Also, the Limited 203k is the only version of the 203k that has a provision that MAY allow the contractor to receive 50% of the material cost up front, but that's only if the contractor can prove to the lender that they don't have strong finances and need $$$ and then the lender approves their request.

And neither does passive management of rental property.- Activities that count towards real estate professional status include those activities affiliated with a real property trade or business in which you materially participate.

That should allow you to pull that furnace and reposition it and incorporate other "used" materials.

You're taking raw materials and producing a product.A third sort of real estate business (I did say just two, didn't I) is property management.

Materials can be quite expensive when doing the job the right way.

Contact owner and offer to fix it for free rent - they buy materials.4.

Take material on eHow with a grain of salt.

If you have a good plywood subfloor with no noticeable seams or defects, you have a lot of choices in the $1/sq foot (materials only) in a low end rental.

Hey Marie,I agree with you that disclosures in general are poorly constructed; just to clarify the exact wording of the disclosure for this issue:"Are there now or have there ever been any underground tanks or toxic or hazardous substances such as asbestos, urea- formaldehyde, methane gas, radioactive material, radon, mold, benzene or other environmental contaminants on or in the property?"

I would never lie to an appraiser but it is our job to promote our finished product in the best way we can.