We will need to perform all new MEP work in addition to updating the finishes.

Increase your income, reduce your expenses, save like a madman, educate yourself, and invest from a position of strength.1.

Check for any encumbrances or liens on the property: Before finalizing the purchase, make sure to conduct a thorough title search to ensure that there are no encumbrances or liens on the property that could affect your ownership rights.While you can start with a California Real Estate Purchase Agreement template, it's important to remember that each transaction is unique, and you may need to include additional provisions or negotiate specific terms with the seller.

Now that this property is renovated and rented, will you continue to purchase additional properties? 

@Costin I.Here's an article with additional FAQs on cost segregation studies that you may find helpful:https://www.biggerpockets.com/forums/51/topics/1113749-cost-segregation-faqAs Michael mentioned, you need to use your cost basis in the property for a cost segregation study.

The last method seems to be the most practical for me if I can just get the right deal and makes the most financial sense to reduce my overall expenses in the long-term.

So if you want to decrease the agent's asking fee, the agent may reduce the level of service provided.

I always recommend State Farm, as their standard homeowner policy will cover your additional rental unit automatically. 

I had an experience with Fund & Grow where they work on the customer behalf to get approval for 0% Apr business cardsthey have a PoA to work on the behalf of the Client which is totally fine - however Lender do not like that and one of the Lender - FNBO - that approved me for a Business Card with $ 15,000 at 0% Apr for 12 months - after 2 weeks sent me a letter reducing my credit limit to $ 3,000 and upon calling the Lender they told me the reason of the lowering was due to the fact they found out there was a 3rd party pulling the request of the business card.I explained that to Limitless Funding Source and I asked - in case some like this happens - your fee is 15% to be paid within 48 hours from funding but if I got let's say reduced $ 50,000 to $ 25,000 or lower I will know maybe after 2 weeks - and in the meantime I already pay you guys 15% of $ 50,000 which is $ 7,500 for your fee and then I have only $ 25,000 available with $ 7,500 cost which is a 30% fee - are you guys going to refund me the difference?

Now I understand.Thanks for letting me know that any additional money I would get back is really "nothing".