It starts out at 0% and we can increase this as people express interest, request materials, start asking detailed questions, or verbally commit to subscribe. 

(Direct mail marketing, inspections on properties that I don't end up buying, miles driven to look at potential properties or meet with potential sellers, and so on)I am still new to investing and bookkeeping, but I want to make this as clean and simple as possible for myself, and a CPA when the end of the year comes around.Thanks,Kole

Number one, over rehab, number two replacing things that dnt need to be and not knowing where to get deals on materials.

When replacing a kitchen and or bathroom in your property, do you use low, mid, or high grade materials?

Many contracts will include a clause that essentially says the Seller cannot make any material changes to the property before closing.

At one point the building inspector suspected that the property may have had a hazardous material underneath the flooring.

Find a Resource yard nearby to source used materials and rent tools from.

Just like the old saying, labor is double or so of the material cost.

Replacement costs are routinely much higher than the purchase price for most C class apartment buildings here in the Chicago area due to the high quality of the original building materials (brick, oak trim, hardwood staircases and doors, etc). 

Has anyone had to challenge them for shoddy rehab work and tested the 1 year guarantee for defects and materials?