Capitalizing CostsDo not add to your basis costs you can deduct as current expenses.

In the Bay Area for single tenant NNN deals owned by institutions, I see 3% of EGR as a pretty standard management fee.

IRS makes determinations on a lot of things, but there are standards that apply even in the grey areas.I would love to argue a case against you if you were trying to prove that flipping one wholesale property constituted an active business.While the IRS could rule on anything they wish, I'm very confident that the 1-2 properties I mentioned is below the threshold that would be considered an "active  business".

I wanted to do a cash-out refi, but ended up having to do a standard refi with a HELOC after closing on the refi.  

You get a lot of part time residential agents that dilute the profession and level of standards.

(California Residential Purchase Agreement) standard one.

Generally, reputable, qualified and experienced exchange companies will charge somewhere between $5,000 and $8,000 for a standard Reverse 1031 Exchange. 

For exclusions to coverage, look at Schedule BII of the ALTA standard policy, what is not covered will be listed on that Schedule of Exclusions.

What other red lights should I be concerned about beside the standard DD requirements to purchase any PN?

You've enjoyed the depreciation tax benefits for 10 years, but now you're ready to sell it.You sell the property for 150K and the loan payoff is 50K, leaving a simple 100K difference.What is the total taxable amount from the sale, assuming standard depreciation was used?