I was just wondering if there are any issues that wouldn't allow me to make this deal because it is close to foreclosure.

@Steve WrightIf it is really a rental property, then capital improvements made to it (once it is a rental) are also deductible, but slowly via depreciation and not right away.The more important issue is whether you HAVE converted it to a rental property.

You will scale that much quicker if you find someone doing what you want to be doing at a larger scale and surround yourself around them.

To preface, this is my first rental property purchase and unfortunately, I realized halfway into owning the home, that the home is way too old, with many problems left behind by the flipper who tried to cheaply fix a lot of the issues. 

@Bryon Andrews uses Buildium, among others I know who have larger portfolios, but I believe there's a fee? 

Seems like an interesting niche...I had always assumed these were for larger scale commercial investments, but in the recent On The Market episode, Brandon Hall used an example of a $100k property. 

Accountants are in such demand, that the best are not even accepting clients half the time.The other problem I see often with accountants on here is that they specialize in larger investors, and have really high prices when you as a smaller investor do not need all the bells and whistles.Another thing I see is folks thinking they need to have a tax professional in their state.

Florida has a lot of issues with processors as they are required to go through a rigorous process.

I believe there are less than 1,000 people in this country who earn more than $100K in profit wholesaling over the last two years, and even that's hard to accurately pinpoint, because most wholesalers, excluding the folks who sell expensive courses, tend to have larger holistic real estate businesses, that include flipping, hold, private lending, turnkey rental sales, construction, and other related businesses. 

He's definitely trying to just take a larger cut by inflating his build cost ... which honestly would be fair if he was just upfront about it.