In addition, owner loaned us $100,000 at 6% simple interest for one year to make major repairs (installed heat pumps, replaced boiler (for heating water only), replaced some siding and major roof repairs.)We were very clear with each other what we each wanted out of the deal.

Also, familiarizing yourself with the 70% rule and determining the cost per square foot for repairs is going to be very helpful. 

Can somebody please point me to investor friendly tax preparer or CPA in Louisiana (Lafayette or Baton Rough) for service.

Felicia Hey Felicia,Now is a great time to get back into the game, and you're fortunate there just so happens to be many opportunities in your back yard, more so in the areas surrounding Charlotte as the city has become so competitive...A solid lender will help you take your business further than you ever could by yourself using just your own cash.While you're able to derive tremendous value from the service they can offer your business, there is a cost associated...In our experience, the better the deal, the lower the cost of entry.

You'd also need to make sure the property debt services at that high of an LTV.

They don’t recommend repairing and cleaning old ducting.

Prcyd pricing is pretty competitive for most people and offers additional value like some data scrubbing and valuation Estimates.The only other service I've seen people using lately is LandVision (LightBox).

@Dennis Rodriguez and @John Truong - Thank you both for providing input.After the initial overwhelming response to my post (bad joke), my colleague referred me to www.thumbtack.com that facilitates meetings between investors/homeowners and service providers of all types.I will definitely get a few referrals from the local REIA, as well.Wish me luck!

@Tom Puiia if you're only engaged for tax prep service with your current CPA, that may be why your expectations are not aligned with the service you're receiving.

Any additional unforeseen issues because of power not being turned on could hurt but won’t completely kill the deal unless major repairs needed.