Or not until you have actually spent that money on some sort or repairs.

Win-win for a motivated seller who wants to sell NOW.No kidding you simply put on your contract i am buying for PROFIT or LOSS  my attorney taught me that on in 1975 it works like a charm. if they dont want to take your price you simply list it and make money there.. not just walk away with yet another lead you spent money to get that turned into dust. 

I’ve spent years in corporate property management for both public and private sector.

The depreciation is taken at the syndication level - generally a partnership, so if it is rental real estate, your K-1 will show an  amount in box 2 - net rental real estate income (loss).

We spent about $20,000 on improvements.

He was given ONE disposable N95 respirator in a plastic box with holes in it and told to make it last for the duration.

As I'm transitioning out of the Army, I've spent most of my time pursuing my RE activities that technically qualifies me as a "RE Professional" based on the IRS requirements.

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Then I spent a gruelling 18 months designing & installing a complete fire sprinkler system throughout as NOW required as per the Town Bldg Inspector & Fire Chief. 

With the extra $ we spent and the stress we went through, is it worth it to go after the previous owner?