I lease optioned it to a nice couple they paid cash to put up a pole barn.. what do they do they go out and buy a back hoe ( case 580)  brand new and now when the time to exercise their option came their DTI was blown and well they had to move.. and I got a free 20k pole barn.. no you cant coach this.. .. 

You cannot exercise the 30% federal tax credit on rental units. 

Because that just means you'll have to do the numbers more diligently and exercise your negotiation/persuasion skills.

Assuming a property is intended as a long term hold you need to distinguish between two categorizes;Immediate Repairs - Broken and needs to be fixed as part of purchase, setting its age to 0yFull & Lapsed life time - Will need to be replaced at some pointAssuming you do not want to have a 'cash call' (as this will reduce your overall long term returns), for each item on a CAPEX list you need to go through the exercise of figuring out where it is in its life cycle and how much it will cost to replace / do.

so it's still a valuable exercise to see if some limited PV can be put on the property.   

I know this is a difficult exercise given the limited amount of information on the listing, but I believe  it is still beneficial to newbies like me.   

I was referring to coming up with a monthly capex estimation, by amortizing different components of house by expected life.You may be misusing the word "amortize", or, perhaps, exercising some literary license and creating a confusing context in the process.A property's needs tend to increase over time.

Enhancing the problem.

Great stories thanks for sharing I learned a lot from this exercise.

Trying to find a 1% rule deal in the Bay Area, when you have limited financial resources or experience will be an exercise in frustration.