Curious as too how you did the renovation, I too am working full time and thinking about doing a reno.  

If you hired a contractor to turn a large renovation and he isn't a GC, that was the beginning of your problem.  

They can be renovated into performing rentals at an acceptable cost.  

Current rents make no sense - I need to renovate for new rents.  

If I use my name to finance the purchase of the property, am I still able to report the acquisition, renovation, interest and other misc holding cost under the S Corp?  

Always be totally transparent with both the buyer and seller, if you can find a way to meet everybody's goals (in this case, $80k to seller, and $95k to buyer with small renovation), then they're often willing to work with you to make things happen.Thanks again for all the thoughtful responses.

I can even do the renovation work if you'd like.

Presently I'm looking for a GC for a flipp, but long term I would like to renovate each of my buy and hold rentals as tenants turn over.

I always assume worst case in my renovation costs and base my offer on worst case.

I'm using the Rental Property Calc to determine if a listing is a good deal or not for a renovation loan.However, when I insert the Estimated Repair Cost that amount is added to the Total Cash Needed, when on a HomeStyle or 203k loan, that amount isn't cash I have to supply, but instead it's rolled into the new mortgage.Does this skew the results somewhat?