For example, a dryer that costs $1500, can I use De Minimus Safe Harbor for that, or does it still need to be capitalized since I purchased it before officially putting cabin up for rent?

Now, if this coach is going to co-GP your deal, bringing their balance sheet to secure a loan, investor connections to help raise the money, asset management skills, broker connections, etc to actually get a deal done, then maybe that is worth the share of profit, but most guru's I hear about are available for questions you bring to them, and put you through a generic course, typically with market selection information, basic underwriting education, etc.  

In cases of environmental contamination, that can limit what could be there in the future, for example a former car repair shop (that you found the stale yelp reviews for) is likely sufficiently contaminated that it can only ever be something like that, you won't be able to put a daycare center or restaurant in there. 

DSCR generally requires low documentation, no tax returns or W2's, and you can put all of your investment properties in separate LLC's to protect your other assets.Let's connect 

Question two: I know I should get this put into an entity like an LLC, maybe even Wyoming LLC, but should I spend the money to set this up before I complete the purchase?

With hard money youcan make a better ROI because you are putting less of your own money in thedeal.

Even if you put down 20%, it will most likely not have cash flow when considering repairs, maintenance, vacancy, etc.

Putting together a trustworthy crew is crucial to carrying out effective flips.Manage Your Finances Sensibly: When flipping houses, sound money management is essential.

I would remove the double doors going into kitchen and put a laundry closet there.

If the buyer got a loan from a traditional lender to get to the 75k number, would that automatically put me in a second position on my seller financed note?