Those degrees should help.I have a large interest in stocks and buying percentages in oil and gas wells, but with real estate I am not 100% sure yet if i want to invest in rental properties or flip. 

I can't speak for all TK providers, but since my model is designed for long term buy and hold, then I am going to over renovate the home with granite in A+ properties, vinyl plank flooring in high traffic areas, brush nickel faucets, oil rubbed bronze fans, brush nickel cabinet knobs/handles, new vanities, new counter tops, address 98% of the items in the buyers inspection report, thicker carpet and carpet pads in the bedrooms, ceramic tile in showers and bathrooms, new supply hoses on all plumbing connections, update electrical systems, fix/install fences, repair outdoor storage, etc.  

I hate to see newbies lose their money to snake oil salesmen, but if that's the price that must be paid to understand what a "pitch" is compared to a real education, so be it. :)    

@Jayson Greenblatt Was there a reason this house didnt have gas or even oil heat?  

I honestly don't think caulking around the sink, paint patches from holes on the dry wall, oil hinges, cleaning and basic maintenance would cost that much.

I imagine with the oil companies doing some layoffs, you'll see a fair number of deals out there currently.

One tenant will smoke inside, sneak in 5 pets and change their Harley oil in your living room and you'll be out thousands.  

See Uniform Capitalization Rules earlier.The costs you can choose to deduct or to capitalize include the following.Carrying charges, such as interest and taxes, that you pay to own property, except carrying charges that must be capitalized under the uniform capitalization rules;Research and experimentation costs;Intangible drilling and development costs for oil, gas, and geothermal wells;Exploration costs for new mineral deposits;Mining development costs for a new mineral deposit;Costs of establishing, maintaining, or increasing the circulation of a newspaper or other periodical; andCosts of removing architectural and transportation barriers to people with disabilities and the elderly.

For example, a lot of banks in Texas and Oklahoma went under in the 1980s when there was a sudden drop in oil prices and the oil field producers could not repay their loans.

That area has been removed but you can still see some oil stains on the floor .