If you were going to take the property down to the studs and do a complete remodel, then sure, go ahead and waive the inspection because at that point you're only keeping the shell.

Only a small percentage of people play with those snakes and actually come out ahead. 

Some limited partners might prefer debt financing instead of equity simply because its easier to understand, less potential unknowns and risk, etc.All needs to be specified and determined ahead of time however. 

I figured if I go ahead and do the leg work now and put together a quick reference list of cost effective items that will enhance the quality of my rental, it will save me time and money later when needing to do the actual renovations/updates.I'm tracking that markets/locations can vary with styles as well as people's personal preferences etc.Does anyone have a list that they wouldn't mind sharing of what particular items have been your go to when updating your units?

My concern is about the capital gains and the fact that I can't get a straight answer about the pro-ration.

Can anyone set me straight?

"I cannot see what damage they have done to the duplex, because there is so much junk and tons presumably stolen goods. "  She has quite the road ahead of her, and she did the right thing to lawyer up and see if she can recoup her losses.  

It takes sacrifice to get ahead!

When I bought my first duplex, I did a lot myself, and I wish I had gotten some local professional advice ahead of time.

Fix and Refi etcEveryone is so quick to blow this deal off and say its too much at 12.5 Gross but there is always more details to factor in.What are you putting down 5%, if you make just a little you are way ahead on a ROI basis.