Here in VT, you only have 14 days to issue an itemized list.Good luck!

Also - One "Best Practice" item would be to make sure you notify your losing bidders, just a quick call to explain that you've selected a different contractor for this particular project, you appreciate their time for putting together a bid, and that you hope to work together in the future.

These are expensive items but will increase the appraised value of the property. 

They are liveable, but new flooring, trim and paint would help spruce things up.For my analysis, I used some of the sellers pro forma info (as I have not fully accurately looked into items such as insurance, prop taxes, utilities, ect.) and used what I believe my numbers and annual income from rent/storage would be.

But here is a list of other items I came up with in my head that may or may not be possible to write off:Lawn care and similar (such as power-washing services)Home owners insuranceProperty management fees (tenant placement and monthly)PMI (don't have it but curious)Home warranty (and claim fees)Electric and water (while it was vacant)Are there any other possibilities? 

I plan on flying out there to be present during this inspection, and also intend to have a couple contractors out to the property to give me itemized estimates for the rehab that I intend to do.  

The property was then sold at a loss to someone else who then sold the property to my partner.

We recommend the following service twice a year: re- seed, fertilize, poison the pine islands, trim shrubs, inspect exterior of home and report any items that need attention.

@Aaron MaynardHave you run the profit/loss numbers? 

If an item which was requested during the due diligence period is missing from the due diligence materials and isn't provided until the due diligence period is finished, does that automatically extend the due diligence period through the date of receipt of said item?