There are prolly some other items you want to do before needing to communicate with a CPA.1) You should develop a real estate strategy based on your strengths - Will you be a buy and hold investor, fix and flipper or focus on short-term renting.

Just wanted to have an average contingency number to fix this.

The sellers are offering us a credit on the purchase price, but will not fix damage themselves, nor will they allow us to conduct our own estimates with our own contractor. 

Is this an easy fix or is this something that could get pricey the issue he has is the 2x4's supporting the roof. any input from experienced carpenters is much appreciated. my dad has incredibly high standards for things so i am trying to get a second opinion.

Why should a tenant have to pay you if the roof develops a leak and you have to fix it?

If a family member or hard money lender has the cash available to pay for the property up front and I structure a loan with them at say 8% 30 year fixed, is it possible to refinance with a bank in order to pay them back?

I bought and lightly fixed and sold a property; I bought and fully rehabbed another house and sold; I bought a short sale and fixed it up as my primary residence; I’m in the process of a flip that has extensive work (just closed on Wednesday); I had a rental for almost three years.

The local attorney might also have connections with the city and they know by you using that person things will be handled appropriately versus ( joe blow ) who is flying in the dark and has no clue what is going on or how to fix it.Good luck.

I would then sell off one of my properties and hopefully purchase another duplex for about 100k fixed up as well.My issue is last year I paid almost no taxes due to buying and fixing houses and putting income in retirement accounts so I don’t qualify for a mortgage this year.I want to learn how to refinance and cash out and take loans against my rentals to invest in investment mortgages and see if I can’t do a better job with about 1 million to work with.

Those placing residential mortgages will have to qualify for financing at the BoC posted rate for a 5-year fixed mortgage, @25yr amortization, regardless of the financing they ultimately plan to take.