Now I"m back to 4 XLS.Seems like you spend an inordinate amount of time putting in info and then learning how to get it to do stuff you want like who do I need to call today and why. 

What will be required from the seller party is:- Detailed scope of work of any/all additions, improvements, alterations, repairs, etc.

I'd spend this time making money the traditional way. 

What you spend, where and how much - These are all, in fact, personal choices. 

Some work to be done from the looks we see anywhere from 50k-60k in additional costs.

An additional benefit of a detailed engineering-based Cost Segregation Study is that it can increase potential insurance premium savings as well as provide support for the property tax appeals process.

Contractor buddy would be spending time fixing up the house in many cases himself instead of using a crew, how do you account for that vs effort which I will put on design, managing project, purchasing materials, brining in the capital etc.

If you haven't heard of these strategies, I'd suggest browsing the forums here and spending some time on YouTube.

@Jorge Liang in addition to stating tenant is responsible for utilities, our lease states that if they tenant does NOT transfer them to their name, we may legally do so.If you have the tenant's DL and SSN, you still might be able to do this, but check with an attorney.

Additionally, I will be trying to deduct everything that I can as business expenses.