What Jay said is correct, and also need to check if the state even allows for a deficiency judgment. 

Independent of the rent if the law allows. 

For newly constructed, purchased or renovated properties and also retroactive generally over the last 10 years, building components are properly classified into individual units of property and accurate recovery periods for computing depreciation deductions.

My goals are to learn how flip house to allow the profits of the Flips to buy multifamily long term holds.

.- If I deduct the depreciation for tax purposes, I can't add the flooring cost as an improvement to the cost basis when I sell the property down the road correct?

BUT I was wondering if the IRS would allow me to use my SMLLC as my other "Partner" in this new Partnership/LLC? 

Very few sellers will allow you to create a hole in their properties ceiling to investigate due to the liability involved.

Since last year of November, Fannie and Freddie has allowed borrowers to put min 5% down for conventional loans and being able to invest multifamily up to 4units.Also, the beauty of FHA is that it allows you to put 3.5% down payment to invest in 1-4 units.

. - Annualized ROIFor Rentals that we hold in our portfolio, that were perhaps once BRRRRs, I analyze based on ROE - Return on EquityI used this equation to back into my maximum allowable offer (MAO): ARV - Rehab Costs - Holding Costs - Purchase & Sale Costs - Desired Profit as a percentage of ARV = MAO

Would you refund the guest who cancelled (claims it was due to illness), or take what the cancellation policy allows me to take on top of the money I will get from the nights being booked?