@Irfan Raza This has to be THE most extensive rehab I've seen!

I offered them a 12 months extension for the same cost.

I searched extensively for this topic in the forum to no avail. 

If you're cool with going on extension at this point, I may be able to help.  

The escrow process is extensive the disclosures are important.  

I have a property I'm putting under contract tomorrow that will be a great opportunity for a tear down and rebuild OR adding an extension on to existing structure in Northern Virginia. 

The good news is the inspector himself voiced his opinion to me that he thinks this ordinance is BS and he is pissed that he has to enforce it but it's his job, so we had a mutual understanding and built some rapport and I got a one month extension, netting us another $4000 for the month.

You have to go by the specific neighborhood the subject property is in and that requires extensive knowledge of the New Orleans neighborhoods.

Of course, you could certainly file an extension and/or file an amended return later if they notice any changes. 

And of course I would get a professional property management company to manage it for me.I've done extensive research on properties all over the US, and come to these conclusions: 1) It's really tough to find good cashflow opportunities in the northeast and west coast, 2) if you look in the south and midwest, however, there's a lot of smaller cities (population 50,000 - 200,000) that have tremendous cashflow opportunities.A couple of Qs:1) Does anyone have experience in selecting a city 1,000+ miles away from their home just to buy investment properties there?