I found a property that I was going to TRY(i say that cause I needed funds) and buy to fix and flip...however life situations  have come up and I need a home for my self and 3 kids with the one on the way...here it goes 3br brick home 2 bath unfinished basement in cook county illinois...back taxes on this property are all that is owed no mortgage it's on 3 property pin numbers which #2 has been sold to a tax buyer that can only be redeemed from that tax buyer for 23k(i have been in contact with them and they have not deeded the property and won't for awhile) pin#1 and #3 has unpaid taxes a portion sold to a tax buyer and the others just need to be paid for.

b) Does the prorated taxes that the seller pays account for a portion of those allowable credits, or is it a totally separate obligation of the seller?

Home Specs: 3/1.75 1500 sq ft, 5400 sq feet lotList price: $375,000Purchase price: $340,000ARV:$440,000 (comps verified with homes sold in 1/4 mile radius in last 30 days, not to mention a few pending listing at $460ish)Rehab: $20,000-Scope of work: -Paint int and ext-finish original hardwood floors 1200 sq ft-new windows- install 1 ext double door -landscape back and front yards -bath1: new shower pan/tile, vanity, bathroom flooring, light fixture -bath2: epoxy coat tub and add tile border, new vanity, new flooring, light fixture -3 new mirrored closet doors-1 water heater-kitchen tile-retouch white cabinets and add modern hardware-5 int doors-door hardware, hinges, electric plate coversHard Money Loan Terms: $300,000 with 3.5 points and 12% interest$40,000 cash for purchase$20,000 cash for rehab$10,500 cash for hard $ points$9,000 holding for 3 months (1.5 month rehab, 1.5 month market and sale)The largest concern is the shower pan in the bathroom caused flooding and destroyed a portion of the bathroom subfloor, I made sure to mention to my inspector that I need him to verify that there are no signs of mold under the home. 

Home Specs: 3/1.75 1500 sq ft, 5400 sq feet lotList price: $375,000Purchase price: $340,000ARV:$440,000 (comps verified with homes sold in 1/4 mile radius in last 30 days, not to mention a few pending listing at $460ish)Rehab: $20,000-Scope of work: -Paint int and ext-finish original hardwood floors 1200 sq ft-new windows- install 1 ext double door -landscape back and front yards -bath1: new shower pan/tile, vanity, bathroom flooring, light fixture -bath2: epoxy coat tub and add tile border, new vanity, new flooring, light fixture -3 new mirrored closet doors-1 water heater-kitchen tile-retouch white cabinets and add modern hardware-5 int doors-door hardware, hinges, electric plate coversHard Money Loan Terms: $300,000 with 3.5 points and 12% interest$40,000 cash for purchase$11,000 possible payout for selling agent commission$9,000 closing cost (will attempt to have seller pay closing)$10,500 cash for hard $ points$9,000 holding for 3 months (1.5 month rehab, 1.5 month market and sale)The largest concern is the shower pan in the bathroom caused flooding and destroyed a portion of the bathroom subfloor, I made sure to mention to my inspector that I need him to verify that there are no signs of mold under the home.

$8,000 down the tubes to totally re-roof the 2nd story portion of the roof, and tar the 1 story portion.  

I am in the middle of doing it for the 1st time (about to start the refinance portion), and have seen it done multiple times here see (@Michael Noto  who documented some his experience in a diary here).

If a renter has a work request they would fill out a detailed form on the app asking for specific information about the request including pictures, and any other vital information that contractors would need ( appliance ID's, location . . . ect).

Do I understand correctly that one can deduct that portion of your home's property taxes as a business expense that is used for your business?

I was trying to be overly simplistic, but he is correct in that you have to allocate a portion to land which is not depreciable.

Now it looks like just a small portion may be on my side.