The only draw back was it had an old octopus furnance system in the basement which, at the time was functioning well and needed no immediate repair.

If you keep receipts for all business expenses then you can claim those again income (things like cell phone, office space in your house, repairs and more are all possibilities).If you're not a sole proprietor then you are probably better off just hiring a tax accountant to do it for you.

We do small repairs ourselves and have kept the place up very, very well.

Interest rate on the loan is 6%.I figured it up and including all of the maintenance that I've put into the building I'm going to be about even for this year on a cash basis (I had to repair some flooring, doors, etc.).

They usually can fund up to 100% of the purchase + fix if within 65-70% of the after repaired value.

New loan program:100% of all hard costs up to 95% of the "subject to" after repaired value for full docup to 85% of the ARV for stated.

Fannie Mae painted, carpeted, repaired the roof, and purchased new stove.

Have you begun to repair your credit yet?

Becuase you will need to save cash for mortgage payments, repairs, etc. that come up while you get your feet on the ground.

Repairs ??