Also, the deductions/depreciation are in a different "IRS bucket/category" from your business profits. 

And I reminded myself that this had been on my bucket list for a very long time, and how great it was going to feel to cross that baby off!

@Justin WilsonTiming of deduction doesn't matter whether you pay for the closing costs via cash or included in the mortgage.Costs paid for at closing fall into one of three buckets - currently deductible, amortized/depreciated or non-deductible(escrow).

That means pouring buckets of water down floor drains?

Checked off a bucket list item Monday last week playing a round at Pebble Beach...it was awesome.

Refinancing typically falls in two buckets. 1) Refinancing as foreign investor - Typically, I have seen foreign investors can get 60% LTV. 2) Refinancing as foreign investor with local partner - In this case you can refinance up to 80% LTV and typically can find better rates as local partner is a resident of the state and may get better financing terms than foreign investors again in the second case you have the dynamics of partnership and giving equity but at the same time you would have boots on the ground ed. 

Apparently the concept of a bucket was foreign to him, haha. 

Really anything less than about $5K in repairs I would throw into that "rent ready" bucket, as far as pricing goes. 

Being a GP and buying turnkey would fall under the same bucket, most of the time.

Or, hire all the pro's needed and bring a giant bucket of money for what it's going to cost.