Adding on to @Mihir Bhimaraju's comment, here is the calendar for CIREIA.

Adding Lo flow toilets to an old building will probably increase your expenses not lower them.

CON: Because I use cash I either have to season for 6 months or opt for Delayed Financing Exception and capture only purchase price leaving my rehab stuck in the deal as dead equityI know there must be a way to circumvent the seasoning period by simply adding the rehab + purchase into the deal from the beginning.

Older style mixes with some added sand works best.Outside of that, if you really needed to, you could replace sections with cement block or poured cement.As long as the walls are true and not leaning or bulging, then it's just a matter of maintenance on the mortar from time to time.

You cannot charge extra rent or an extra deposit for an ESA; however, the tenant is responsible for whatever damage that animal causes.Service Dog (or miniature horse) -- These are animals that help with some kind of physical disability. 

Hi BP,I will have a vacancy in one of the unit in my duplex by end of this month.I have put an Ad on Zillow and put my requirements out there.

Just factor in fixing the reason the basement flooded (could be easy like clogged gutters or extending the down spouts or maybe the sump pump hasn't worked because the electric is off or it could be expensive like digging around the foundation, parging the walls and then adding a french drain or could be real expensive and have a cracked foundation so you need to know) mold remediation and door replacement (if they're really bad) into the renovation figures.  

So I am still learning how to word everything correctly. so please bare with me.Lets say a person makes 15,000 a year before taxes and wanted to get a property to fix and rent out. in southern California. lets say the person used a hard money lender to obtain the property, and sources for the rehab and closing cost + extras in case anything pop up that needed to get done.now that the rehab is done and the house is ready to be appraised, rented out with a management company and refinanced. would there be a way to refinance the house with that low of an income ? 

When you use your money (cash flow and personal income) to pay down any debt that the tenant is paying (thanks to positive CF), you are adding to what the property costs YOU. 

Consider adding a profile photo.