QIP (qualified improvement property) defined by IRS code section168(e)(6) as “any improvement made by the taxpayer to an interior portion of a building which is nonresidential real property if such improvement is placed in service after the date such building was first placed in service.”The intent of the TCJA was to treat QIP as 15 year property.

But all in all I would say define your ideal use, check compatibility with zoning and get a phase 1.

. $25-30/sf for a lower end refresh.I have not designed the garage space for the ADU yet, but when I do define the scope, it will include all new electrical, plumbing, HVAC, custom windows, insulation, 1 full kitchen and 1 full bath, exterior paint and a couple of new garage doors.

While you're waiting for your credit score to slowly climb to acceptable levels, learn everything you can in a broad sense, then figure out where you want to concentrate, then concentrate on that area with LASER FOCUS.Bottom line, nobody can tell you what to do with some arbitrary sum of money.

If you are saying that is the case what is the ratio that is defined by tax law of purchase price to renovation or better yet percentage of spend that has to be allocated to rehab? 

Once you have a budget in mind, your search will be more defined but the potential search price.

You need to be able to learn close by, so that later it is easier on you and your distant team member to communicate.Step 5:  Define success on your first time out. 

Roles and design making powers need to be clearly defined and put in writing.   

Some will define that different than others.

The key to effectively compete in hyper competitive market is to clearly define your criteria so that when opportunities come up, you can quickly evaluate them and determine if they are good investments and then act on them quickly.