Most importantly, it is designed for QuickBooks Desktop users of all levels, and that is precisely why the beginning of the book teaches readers features with step by step instructions to record each and every transaction in QuickBooks.The content follows a sequential structure that covers multiple scenarios of closing a deal; it walks readers through recording the earnest deposit, entering a HUD, refinancing, running reports, and many more tasks that are essential to effectively implementing QuickBooks. -- As to your specific questions - check out the chapter Purchases - there is an example of the HUD and a worksheet you need to follow. 

We did a combination of versions using what we liked from TAA and what we liked from other on line sources and made our own lease combining the best features of all of them. 

@Nobuko MorganIf it's your primary residence, you may be able to deduct mortgage interest and real estate taxes up to a limit if you itemize.Otherwise expenses related to a primary residence are personal in nature and not deductible. 

Legal protection does NOT come from the S-corporation election, it comes from the LLC nature of the entity.

However, I really wish it had a feature to list or advertise open houses, like they do for selling homes.

@Luke Fouch If you are using QuickBooks - use the Class feature to track all money in and out by properties.

Its just basic human nature. 

Nice feature that makes the home "different" from other listings. 

The nature of the 1031 requires that you not take title to your new property until your old property sells. 

The biggest flaw is there is a steep learning curve and a lot of the functionality is built for communicating with clients (homeowners), which isn't really applicable for flipping houses.FlipperForce/RealeFlow/FreedomSoft/Fixters - These are real estate specific softwares with varying levels of project management features & functionality for managing rehabs.