Hello I am new to all of this.

The previous owners invested over $12M into building it between 2009-2012 but then left it vacant for years, allowing it to naturally age.

I agree with all that @Travis Main said above, esp the part of having 10-15% contingency in your budget.  

My W2 income takes all my FEIE, can I have our rental property business expense her management at $100k? 

This includes getting comps or an appraisal to verify value, lenders title insurance,  a proper note and mortgage,  and you must be listed as a mortgagee on the borrowers property insurance policy.Our lending criteria in our lending business caps our loans at 65% of the after repair value and we control all rehab funds as we hold them in escrow. 

All which can be determined by Air Quality testing.

As I explained in the offices, real estate investing is not all cupcakes and rainbows, and passive investing can be tricky. 

Hey All,We are looking at purchasing a deal in the east valley of Phoenix, Arizona in Mesa.

This all depends on your tax bracket, state, marital status, etc.

I want to get all the insight that I can get before I’m acquisition something.