The contractor there uses exclusively treated lumber and I asked this exact same question.

I have been going around this by adding the renovation cost to how much we want to offer on the property as the "Purchase Price" and typing in $0 on our renovation costs.Another idea my husband had, was to use the BRRRR calculator, and treat the purchase of the property as the "Purchase Loan Details" without the rehab calculated into the loan, but with all the same details (interest rate, down payment, amortized years) and our "Refinance After How Many Months?"

Lately, we are seeing tenants who wish to treat the property like a resort room, where they will call maintenance to help them light the fireplace (this indeed has happened a number of times). 

In The Book on Rental Property Investing by Brandon Turner, he highlighted the importance of creating systems to treat your rental property investments like a business instead of a hobby.

@Eric Thomson, Pub 523 actually has a section that I believe would allow you to treat the land and house as one sale even if sold in different years - as long as that land was used as part of the house. 

If the tenant is polite, pays the rent and is really decent in general I always give the tenant the benefit of the doubt only because a super high percent of landlords treat their tenants like trash and I don't want to be like them.Maybe, the window just decided it was time to crack.

Hey @Lloyd Spencer:I'm not sure how Jersey City would treat it from a CO standpoint, but I would also consider what the state requirement will be for the next Green Card inspection through the NJ DCA.

If you treat regularly will that control them?

I'm looking for an initial house hack where I treat myself as a tenant for evaluation of the deal.

I include this perhaps bloviated though factual background on myself to back up my statement of;--dedication to treating everyone fairly;—always doing the right thing;—and expressing love and concern for my fellow man/person.If you hold these values and have been conned by CIX, please, let’s connect directly.