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Knowing construction/remodeling, local codes, contractor licensing laws, state laws, project management, tax codes/laws, understanding market conditions and having a healthy amount of liquidity are but a few.Flipping is a business and subsequently requires one to be business savvy, especially in California. 

"When everybody is digging for gold, it's good to be in the pick and shovel business" - Someone smarter than me. 

Setup, marketing, sales & management.Their Goal: Develop steady income for the firm to combat dips in sales.My Goal: Develop my own business.

I kept all the rent collected and deposits in a business account but I did pay the mortgage out of my personal account up until last month.

Why would they want to have to pay out another business?

Yes, there is nuance to real estate, just like there is nuance to any business.

I have some questions around paying the mortgage and also about the use of a business credit card. 

2) The plan for the building is to house a new small business that my family and some friends/business partners are working through.

I’m using them for another business (not real estate).