Same as a a baker who buys flour, sugar, frosting and then sells a cake You bought a busted down house, wood, drywall paint and sold a fixed up house To the IRS it's the same.  

They look at it the same as baker who buys flour, eggs, and sugar and sells a cake. 

LLC's are a piece a cake to get (at least in Ohio). 

It's icing on a cake. 

Now I say they are a cake walk.

Getting a property under contract is a cake walk, a monkey can do it. 

With the rental income and minimum 35% equity in the deal, refinancing should be a cake walk for you qualifying.  

If you can become a software engineer, then real estate ought to be a cake walk for ya. 

Bought a house, bought 2 more, bought another, had 3 renos going at once by January(I couldn't believe that's possible) sold those while acquiring another 6, had 6 renos going at once by March ( made 3 seem like a cake walk), wholesaled one, flipped the other 5, and bought another 7, including a sweet old bed and breakfast on 4 acres near the beach (That one is for fun and hopefully a good air bnb).

Wow, people used to bring over a cake or pie back in the day.