After returning for good and closing on a 5 unit property along with renting out another SFR we had, we ended up going over the threshold for income to be able to claim a deduction for renovations that we performed one one of our SFRs.

With no loan you have no mortgage interest paid deduction...so depending on your overall taxable income situation, it might hurt you to not carry a mortgage.2. 

I'm not sure I'd be able to pull that off because my credit isn't so great and I currently work as an independent contractor therefore my adj. gross is extremely low after taking all the deductions allowed by the tax code.

The corporation deducts 100% of its contribution from its taxable net earnings and thus reduces tax on the sales.

This one gives a deep look at all deductions. http://www.nolo.com/products/every-landlords-tax-d...I should probably update the website now that I read about that...

(Or maybe both.)The beauty of a HELOC is that you don't have to use the funds right away and you can borrow against it over and over again as you see fit.If you borrow against your primary you still get to take the tax breaks (interest tends to be tax deductible) because it's attached to your primary residence.Start there, and if that isn't an option, I'd suggest checking out the options with local lenders about financing programs.

ARV is same as purchase price as per final appraisal.Loan status = approved for a non recourse loan.PITI = 765 per mo HOA = 35 per month Property will have a guaranteed rent for 12 months of 1175 (similar properties renting for 1100-1200 in the area )After capex, future repairs deduction I will be cash flowing 140-160Market is growing fast.Should I close on this dealThanks again as always 

Does anyone know if the cost of a trip such as this would be tax deductible under the usual guidelines or do I actually  have to own property there to be able to deduct the expense?

It covers 250K replacement, 300K liability, 46K loss-of-use, with a 1000 deductible. 

For example, even in the same location, insurance can vary widely based on age, sex, the company involved, any past claims, deductibles, etc etc.