In that sense, the court order might be able to be used to establish a superior interest in the property.

As a painful lesson that so many learned in the downturn, it is folly to include the gamble of price appreciation in our real estate analysis.

From what I read, they charge 8% as a "finders fee" for establishing a line of credit with someone else.

When I installed the new bushes, I told them they would need to water them often (several times a week) until they were well established and they verbally agreed.

In the long scheme of things, this is worth more than the short term bucks you'll get from the tax deductions (which also might put you in an awkward spot should you get audited, coughing up taxes and penalties).3) While there is no statute of limitations on maintaining all records to establish the correct basis on a property (for computing depreciation currently abd eventually computing the capital gain when disposed of), I do think that you would have something of a "safe harbor" if something that you expensed improperly (or let's just say aggressively) has slipped more than 3 years into the rear view mirror, as long as there is no evidence of fraud/criminal activity or other shenanigans that would give the IRS greater leeway in dredging things up.

I'm looking forward to establishing a productive business relationship with Aurelian and will update this forum after successful funding is complete.

While the formation of an LLC is rather simple, most of the work concerns the operating agreement, which establishes the rights, obligations, and duties of the LLC members and managers. 

For the first 3-4 months I rented a room for myself while I established my bearings.  

The objective- learn, establish some contacts & maybe a partner or twoRegarding the recommendation to find the cheapest fixer upper to flip to a rehabber- Without knowledge of your market you may end up buying the cheapest fixer upper & end up owning it forever because a rehabber won't take it.  

You're doing this backwards.....the appraisal is based on the repaired condition, which is impossible for the appraiser to  establish without a detailed scope of work.