THis is easy. 

Just factor in fixing the reason the basement flooded (could be easy like clogged gutters or extending the down spouts or maybe the sump pump hasn't worked because the electric is off or it could be expensive like digging around the foundation, parging the walls and then adding a french drain or could be real expensive and have a cracked foundation so you need to know) mold remediation and door replacement (if they're really bad) into the renovation figures.  

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Hello and my question is,If my income was low , but I had access to funding.would I be able to put money in to a business I start up for my rental properties and claim it as business income or means of paying the mortgage in order to get approved  for a loan or to refinance a property if i take the hard money lenders way of getting a house? 

Its too easy, when you go at it alone, to talk yourself out of something or have self doubt. 

The 2nd deal is a mixed use single family and condominium complex to be built on the water with direct access to the Bay to the North and Ocean to the South, again on land that will be paid for as we sell.

Hello, my name is Warren and I am looking to learn more about wholesaling in the Tampa Bay Area in South Florida. I have been going through quite a bit of knowledge on learning ARV's for houses in various zip-codes an...

Perhaps update some appliances - lighting - etc. those things that are quick and easy and make things "pop"!

It all seemed very shady and then I began thinking to myself.... what controls are in place to stop these inspectors from deciding an area is "not accessible" and pointing at "flaking paint" to drum up business for their friends and themselves?

I do NOT recommend you get the seller to fix any issues unless they are very easy and essentially cosmetic in nature.