I do recommend a separate checking account for all business related items as well it will make doing your accounting far easier!

I did not see any line items for this.5.

With flood zones, lenders will require you to carry flood insurance.

It will only carry expenses of CA property taxes and insurance.

You are asking us if this quote you have would include trims, but you should be asking the party that provided you the bid as only they can tell you if it is or is not included.As with any contract for goods or services, you should have it in writing and it should be detailed enough to cover what is included and what is not.My contracts include "Exclusions" which list items that are not covered in the bid and one if my exclusions is always "Anything not specifically listed above".

Or should it be worth less because his name is not on the mortgage, or if we're don't want to complicate things with management fees and carry, the GPs will be putting in work by managing the property for a decade plus?

There are a lot of check off items you need to set up.4. 

Standard deduction or Itemized deduction has nothing to do with rental deductions.

Some of the common turnover items in my experience include patching holes in the wall both minor and major, repainting the unit, deep cleaning the unit, and changing the locks.

Take into account the cost of the rehab possibly going over, carrying costs, cap ex, etc.