The property needs a new roof and landscaping retaining wall, some repair and paint to the deck, and all of the exterior door frames need to be fixed/replaced. 

Given the current lending landscape, I am wondering what the best strategy would be for us to finance this short term rental.

Remolded the bathroom, kitchen, and landscaping, and I intend to convert the dining room into a 3rd bedroom.

Purchase price: $395,000 Cash invested: $150,000 Construction loan funded using my Self Directed IRA...1929 Bungalow/Cottage2/12102 sqftInvestors will be digging out the basement ~2 ft and adding 3 BDR's and another bath.ARV = =$700,000Final product will be a 5/2, fully remodeled from studs along with landscaping!

The cost basis calculations can get more involved if you depreciated one or both properties or made landscaping improvements to a common area for the benefit of both properties.

-Site work: typically $10K is a good number to start with, which includes preparing the building pad, connecting utilities, plus a small amount of landscape and concrete work.Hope this helps!

Does anyone have a reputable landscape co for rehab in Houston?

I'm looking for a landscaper for quick project in North Houston...

Now more than ever it's critical to work with top teams and agents in this competitive landscape.

For the record, there is some really old party wall agreement at our place (which I suppose is still legally binding), but there is nothing in there that tells you how to address common-area maintenance/repair such as roof, landscaping, etc.