Whatever you choose to do pick something you like and keep it simple and the average of that neighberhood.  

I am optimistic we will work it out.Just keep it simple.

He's open to it, but warned that it almost guarantees an audit and requires added 'precision' on our part -- which could mean IRS headaches if we ACCIDENTALLY/UNKNOWINGLY did something out of bounds or didn't document something correctly, etc.My conclusion is if you're doing 'simple' SFHs, and/or you're not an LLC, or anything 'special' a CPA who specializes in Taxes and REI work would do the job, an EA who's good with REI would likely be better; but, if you want to do anything unique/creative, or outside the box or also wish to then have the business succession planning or have kids and want to have the business continue should anything happen to you...and all that added planning, maybe a tax lawyer would be best, or a Tax Layer who works closely with the CPA/EA...make sense?

I just started Google searching buyer's agents in my area and it's actually not so simple to find anything.

In the begining, keep it simple and do the average finish that is in that neighberhood.Be careful with the Internet and the dishonest people use it to try to emotional sale you.  

That means bringing all electrical up to code and it may be worth more than what you can sell the house for depending on the location.If they are pumping water out of the basement - it could be a simple matter of putting in a $6,000 "waterproofing solution" (installing drainage tiles pointing water to a sump pump) to a $12,000+ repair of putting in structural steel to support a collapsing basement wall due to hydrostatic cracking occurring on the foundation.I would tread lightly on this deal.  

You can add bathrooms, finish your basement, and create bedrooms with a few simple clicks. 

Could the denial be as simple as asking for a current shot record of the Animal?

In the begining, just keep your projects simple and average for the neighberhood.Try to find local and experienced professionals at what you do to put on your Team.  

The idea of making profit from this area seems theoretically quite simple.