Instead, appraisal costs may be deductible as a current expense if they are incurred for the purpose of determining the property's fair market value for a specific business purpose, such as refinancing or appealing property tax assessments.

The first order of business when you acquire a property is evaluating RISK MANAGEMENT of your property.  

No other business or properties owned by the LLC. 

All it takes is a hand full of comps, new businesses, reasonable "average days on market" and an influx of population due to jobs and bam!!

Im not talking about loan product knowledge or non QM programs, I mean above and beyond all that? 

Home prices / room rental rates ratios look good for a college town when applying the FHA Kiddie Condo Loan product with a house-hack scenario.

You also have their previous guests that can be huge for growing your book of business and not having to start from scratch.

You just need to get your business license for that property. 

Are there universities, hospitals, large business districts in your desired markets? 

I was able to get a good deal on the house I was interested in due to this fact but it’s a half done flip/reno so there’s a lot of work halfway started throughout the house. 2 areas in particular I’m unsure of what to do with is the walls and attic, any suggestions or ideas of how you would be finish would be greatly appreciated (adding links to specific products are a bonus lol)!