This means that BRRRR typically works as a cash only purchase as the homes being in deplorable shape keeps out all of the buyers who are utilizing financing; thus driving down the price to allow a cash buyer to buy so low that they can utilize the BRRRR strategy. 

What do you typically put for CapEx?

Typically it’s done with cash or equivalent.

The reporting is easy and you should receive a K-1.   

I typically will bid on my properties in foreclosure a percentage of FMV instead of total debt where value may be in question. 90% of FMV would be typical for me when considering i've got commissions, taxes, maintenance, etc., so, i'll bid 90% to try to entice 3rd party bidders so i don't have to take it into REO inventory.

I just received numbers from trusted local contractor so I would like some assistance with reviewing the numbers. 

This is way out of my element, as I am typically a value add investor. 

Not your typical interview in the least.

But as long as you receive registration and plates every year it's not real estate so a non-starter for 1031.You don't want to play games with the IRS and renting back to yourself etc - especially when the rules are in your favor anyway. 

If you are able to receive service at your address during business hours, 5 days a week then sure its cheaper.