orDeterioration to state of disrepair – Amount paid to return the unit of property to its ordinarily efficient operating condition, if the unit of property has deteriorated to a state of disrepair and is no longer functional for its intended use...Step 3 - none of the 3 safe harbors apply (de minimis, small taxpayer and routine maintenance)Sorry, sounds like SOL to me.

This would be properties that need mostly cosmetic work.

My goal plan was long-term rental SFH with few cosmetics to turn-key ready since I don’t have contractors on call and I’m a full time employee.

Now it's more cosmetic things like kitchen cabinet door handle is miss aliened, trim doesn't match from the living room to the hallway, paint from the ceiling to the wall hasn't been cuttin particularly well.What is your thoughts on these types of repairs?

Purchase price: $173,700 Cash invested: $30,000 Purchase: $173,700Repairs: $10k to dateNotes: Inherited tenant at $695, rent after renovation $895, currently listed for rent at $995.Cosmetic renovation, purchased on sellers finance.

It's a cosmetic rehab and its looking like we need interior paint, carpet removal, laminate flooring (or refinishing hardwood), drywall repair, replacing or painting some doors, gutter work and pressure washing some brick.

I'd say purchase now using the fundamentals - under market price, in need of cosmetic rehab or having some other type of problem you can fix that drives other off.

Now...if only we could convince @Steve Vaughan to come join the dark side of developing hahahaDeveloping would most definitely disturb Steve's daily Napping Routine..    

It came up through the MLS, and although needed some obvious cosmetic work and updates, appeared to be nearly livable with the exception of a single roof leak coming from a unsealed gas line entering above the dryer in the kitchen.

Cabinet demo is one of the most wasteful cosmetic flip costs in your budget and are often scraped for literally no reason aside from the fact that they look like 1997 and the flipper has no imagination. :)