@Ben Steuart the standard I use .

There are some related complications such as deducting expenses related to this flip and the issue of the new 20% deduction - so it's a good idea to discuss it in more detail with your accountant.And congrats on making enough profit on your first flip that you asked your question.

As a novice investor, is it standard practice to bring the contractor with you when you go to tour the home?

@Ariel Hernandez thats a pretty standard rate for a commercial refinance.

You would have to own 300 Rental properties (by most investor standards)  to achieve this.

In Texas, lawyers pay over $1000 for a set of two, 4", 3-ring binders for the "standard" set of documents and procedures. 

Normally my underwriting requires 10% COC but I’m willing to accept less for a no hassle rental I can check on during our yearly vacations and take advantage of some deductions.

@Shay Singh - I bought 18 properties in 9 months and used a commercial lender (US Bank)It was not a portfolio loan, they are individual standard commercial loans but I did 3-5 at the same time. 

From there if there are any deductions that stem from the walk through provide an itemized list of any charges they will incur from their security deposit complete with pictures of any infractions.

These kinds of loans do not need to adhere to Fannie Mae standards and can have terms that may be a little more flexible.