Doing business is broadly defined in CA.

Originally posted by @LaMetrius Jackson:are they the same thing@Barry PekinFlipping is generally defined as buying and reselling.

He talks alot about aspects of business management.

My question is do most contractors have your kind of eye for rehabbing a house because I want an accurate rehab cost to keep my buyers list happy.Thank you for your time and advice.Answer:Building your team is an important aspect to becoming a successful RE investor.

Just a guess....Lastly, learn one aspect of buying and selling and master that and then move into other areas, applying new things to what you really know is easier than trying to learn everything at the same time and being pulled in different directions.

Am hoping some rental property owners who can share their tenant’s view in this aspect.

For someone with little experience, I'd recommend you try to re-focus your energies on one of the more traditional aspects of investing (just my $.02).Good luck, and I hope that we can help you to find some success in real estate!

Asset is defined as something that puts money into your pocket.

That's not to say that their aren't nightmare stories out there.All in all, you definately can get financing on foreclosures just as long as a "scud missle" hasn't ripped through it.

Homes are owned in my personal name and not as an LLC.I've read somewhere (can't find it now) that expenses should be organized by the categories that the IRS defines.