Those are the taxes, insurance, landlord-paid utilities, and mortgage.

If for no other reason than for liability purposes, you do need to have a heat option.

You cannot get a business loan or line without net income on IRS taxes.

My investment team will include the following individuals: Investors, Lenders, Brokers, Tax attorneys, Accountants, Realtors, Business consultants, business mentors, appraisers, construction contractors, marketing team, and fiduciary financial advisors, who else should I be working with? 

Document everything, personally I use a CPA for my taxes. 

If I do minor renovations before I list it, are those tax-deductible?

The cheapest lifecycle for any deal has been like 23k, the most expensive life cycle has been 48kThe lifecycle includes:DownpaymentClosing CostsInsuranceHolding costs of loanUtilities and taxes at property until you sell/refiDownpayment to contractor to start workLike I said, the cheapest life cycle I've seen so far was 23k and that was for a deal with numbers of:60k purchase60k rehab170k ARVSo, you can imagine when you step it up and are buying distressed houses at 150k/200k and putting 100k+ into them the liquidity needed to survive the projects life cycle will increase dramatically.And as a rule of thumb, if a project can require a 80% - 100% cash on cash return in 150 days or less close to close then it is a good deal.So if the project life cycle costs you 30k, you want to net 30k as a return. 

And while you’re right to be cautious, the major risk in the deal is that the buyer ends up defaulting and you have to foreclose to protect your liability in that you will still be liable for the mortgage note.  

Sellers in the City of Los Angeles now face an extra 4% transfer tax for any sale above $5 million and 5.5% for any sale above $10 million.

Remember all your investment in repairs can go into your business costs for taxes.