You will not like the interest rate, however, as the investment property interest rate 'hit' is doubled compared to the standard 25% down.

I wrote the above for informational purposes.

I wrote the above for informational purposes.

I'm not saying someone could not do a total rehab for $12K, depending on what all it needed and as you said some work was already done, but I just need to know if that was hired out or "donated" labor so when I'm comparing my numbers I know how to adjust.   

An exception would be if the A/C or furnace had a specialized purpose such as in a climate controlled self storage facility or a restaurant walk-in freezer.

Beasley has some good points about running the numbers to flesh out opportunity cost and compare other deals.

If the meal had a business purpose, then there's no reason why you couldn't deduct it. 

I asked because you might be filing  as "married filing separately" compared to both single filing "single returns". 

I don’t want to spend it lol and I know if I don’t give it a purpose it’ll be gone at the next gun show I go to or something.

An investor with one or two notes may not see an efficiency in setting up such a vehicle as compared to having the custodian serve as the processor.