However, I do feel that as an aspiring real estate investor, it would be remiss of me not to take advantage of the benefits provided by the tax code.

Somewhere between $20/sf and $250/sf, depending on:- Specific scope of work- Type of contractors- Level of finish- Type of house- Time of year- Your negotiating skill- Local codes/requirements- Size of houseIf it's a big house, there's no major mechanical work, you want vinyl flooring and Home Depot level finishes, you're probably in the $20-50/sf range. 

(Raphael had the street numbers and zip code wrong.) 

I know that old houses were not always built up to modern code.

MD Code, Business Occupations & Professions, § 17-601.  

Link to the code: https://www.law.cornell.edu/uscode/text/26/1400Z-2Code Language:IRC Sect. 1400-2(c) In the case of any investment held by the taxpayer for at least 10 years and with respect to which the taxpayer makes an election under this clause, the basis of such property shall be equal to the fair market value of such investment on the date that the investment is sold or exchanged.This often confuses people and they think that any investment qualifies for the 10-year exclusion.

Just be as professional as possible,  know your local codes and laws about moving out a tenant.

You could also use grouping if the rental activity is “insubstantial” (a term undefined by the regulations) in relation to the business activity.You can offset the income only if you materially participate, and need to be careful of the self-rental rule under the IRS code 469.

Steve, with the mis-tints, do you then keep the paint mix color codes so you can get the same color the next time?

Anyone have experience with electric locks that you can generate a one time use code for?