Hoping they pick the shade cover as it will be both an improvement to the property and a write off.

hello, I have just bought a property that needs a) fumigation (section 1), b) landscape grading to improve drainage, c) crawspace/foundation work to repair some piers and fix sump pump, and d) minor interior remodel and retrofit window. 

well instead of checking with folks on the internet why don't you call your state agency that controls lending and ask them what are the rules.. every state is different just because some one is doing it in antoher state makes no matter if its not legal in your state..

When they told me how much they wanted, I felt they were a little optimistic with their asking price and their estimated rehab budget, but after a few rounds of negotiating over text, we agreed on a price that was $15k under their original asking.The numbers were:Purchase price: 80kseller repair estimate: 35kARV: 180k to 195kMy hard money lender would only lend up to 65% of the ARV and they chose to go with a conservative number at $175k, so based the 65% rule I had to be all in at $117, so that gave me a budget of $37k. 

The wording in some of the references I was going by seems to say that you can't write off HELOC interest unless it was used to renovate, or improve the home against which it is secured. https://www.irs.gov/newsroom/interest-on-home-equity-loans-often-still-deductible-under-new-law

During the inspection we did not find signs of water leakage but I will be able to see more when I remove the wood tomorrow, so am not ruling that possibility out completely.  

These days with at least one Home Depot and Lowe's in every metro area, there are plenty of weekend warrior type home improvement DIY'ers.

Assuming a flipper is using a rental option as a plan B they need to be certain it will actually work in their market with the improvements they put into a property.

@Nick JonesYou are not land locked to NYC prices, there is no rule you need to invest in your backyard.Don’t get me wrong it’s convenient to be able to drive to your property but not a most.

Thinking down the road, our current house might be a good rental if we haven't over improved (need to look more into when you rent vs sell).