@Hobart King I agree with the others, sounds like a crazy high amount to pay for insurance on a rental (assuming there’s not something out of the ordinary).I will say, I don’t think you can “just not have insurance” and then “get personal umbrella coverage to cover the liability”.

The remodel included the following labor and materials included:1300 sqft addition to an existing 1700 sqft homeA new roof was installed2 4 ton ac units with furnace were installedA complete home repipe with copper and a new tankless water heater installed80 recessed lights installed, 75 new outlets, 25 new dimmers2800 sqft of enginerred wood floor installed along with new baseboard 4 complete bathroom remodels from a-zComplete kitchen remodel with 22 cabinets, quartz counters with a waterfall island and full backsplash quartz wallsNew garage door, along with a new driveway, and fence installedComplete exterior landscape with over 100 plants and 10 olive trees installedRaise an existing 8 foot ceiling to 12 feet in the living room25 vinyl windows installed with moldings4 new closets installed15 interior doors installed 3 patio sliding doorsBuild a 150 sqft deck outsideMarble fire place with custom mantel Demo and disposal of all project materials 250 sheets of drywall hung, sanded, textured, and complete interior painting$5000 worth of new appliances$7000 worth of cameras, speakers, smart home featuresNew stucco to exterior of home, plus siding$15,000 worth of permits, plans, site plans, city fees

Also, 401k disbursements on the back end are taxed at ordinary income rates.  

Full disclosure: I'm no professional, just giving some insight as to what our inspector discussed with us.It actually was beneficial in that the inspector could easily go under and inspect the structure, subfloor, plumbing, etc..The concerns that our inspector listed were things such as damage/rot to sub-floor,  ensure the support post/columns are structurally sound, the raised front patio is concrete and brick, but they used temporary wooden bracing in the construction but left them in place afterwards which he said provides termites a way to get to the framing of the house.

If you are renting your space with a profit motive, then that is enough to be able to deduct all ordinary and necessary expenses that will help you generate that profit. 

Yes, it's the ordinary rate schedule capped at 25%.

Such conversion need not comply with the requirements of the following specific provisions of this chapter: (a) Section 13-196-660 (height limits); however, in frame buildings, four or more levels of living space shall be prohibited and in buildings of ordinary construction, with or without attic living space, five or more levels shall be prohibited; (b) Section 13-196-050; however, all dwelling units must comply with the exit provisions of Chapter 13-160 except basement dwelling units may have a second exit through a room containing a heating plant; (c) Section 13-196-670 (stairwell enclosures); (d) Section 13-196-680 (corridor enclosures); (e) Section 13-196-690 (dwelling separations); (f) Section 13-196-710 (basement ceiling construction); however, if the basement contains a dwelling unit the entire basement ceiling construction is to be wood lath and plaster of half hour construction; (h) Section 13-196-720 (heating plants); however, basement apartments are to be separated from heating plants with partitions of one hour construction.

I started my credit history with a $500 secured credit card.For my income, I had started A project engineering position in the construction industry making a decent salary but nothing extra ordinary.

Why don't you use a bit different model where your potential clients can pay perhaps $250 (or a bit more if reasonable but no more than $500) for an hour meeting to talk to a real CPA who has been trained by you and determine whether or not they can save me money on taxes such as capital gains or ordinary income or passive income by forming structures that makes sense for using up various deductions and write-offs to the fullest extent to off-set the various sources of income and let them show me how they can eliminate my taxes down to minimal to zero in that quick session, it is like a preview session to what is possible given my actual data. 

Purchase price: $430,000 Cash invested: $70,000 Sale price: $1,035,000 Four cabins on the Shenandoah River in Luray, VA, each identical 1 bedroom, 1 bathroom, 600sf with a 250sf covered patio.