Regardless, I would NEVER involve the insurance company unless there was significant damage to the house. 

@Felix L PerezIt is okay if you are not proficient in tax - you can easily hire a tax accountant to help you.I am not good at plumbing and I would never dare to try to fix my plumbing issues.If you are involved in a flip that you acquired the property in 2018 - there won't be any benefit that you can use to do on your 2017 return.Expenses that are ordinary and necessary are deductible.

I had no issues with the program.

Dear BP, I've gone through a number of searches here on the forum, but couldn't find this answer.I'm really interested in learning more about if I can use a Supplemental Loan program through Fannie Mae to cash out on our existing value add quadplex.

This is a more complicated strategy that involves the use of a non-recourse loan for the IRA, as you may not pledge a personal guarantee. 

@Jermaine Riggs   Remember the 6PsPrior Planning Prevents P*ssPoor Performance There are steps that you can be taking today that will better ensure you will be able to qualify for the best of terms on your purchase in TX.1. have a Mortgage Broker run a Tri-Merged MORTGAGE credit report and pay the extra $15 for them to also run the "What If" score increase simulator to know how best to pay down debt in the interim2. start eating MREs and saving like a maniac until you close as the more money you can show in reserves Post-Closing, the better the programs you can qualify for.etc,etc,etc,   

it is a mortgage, but in reverse.. the interest is added to the loan each month.. so instead of his mortgage balance going down, it increases every year.. it will all depend on what the original number the back put on the house at the time of the loan, and how long he's been in this program.

What are the other cost involved beside the development cost.Any help would be appreciatedThanks

I wonder though if anyone has any advice on how to get into rental properties and make it fair for all parties involved. 

Excited to get involved, learn more, and do my best to help those in the community.