Essentially lower my taxable income by $117k?! 

There are aggressive lenders out there with lower fees for experienced flippers.  

Please share any helpful resources, your personal experiences, and what you have found to be valuable with every transaction.

Tenants in many markets already believe they pay too much (contrary to recent studies that show rent to property values have never been lower for the large US cities).If my insurance costs are not double my current rates over the next couple years, I will be pleasantly surprised.  

The median home price in Milwaukee went up 8.2% in 2024 - and I had to do nothing but wait, compared to a 4 month major construction job.So yeah: BRR(hold) and maybe refinace at some point if/when rates get lower

Do they suggest how to enter the transaction accurately or enter an adjusting Journal Entry.

I would also target ones that are ideal for renting out when you move out so maybe do a lower price point. 

Alternatively, if I can find a lower cost single fam home where I can cash out 100% of my investment I would do that but those have been harder to find recently. 

A lot of local banks tend to have 1-3 year intro periods of lower interest rates for HELOCs, check with some yours. 

A little lower ARV is also ok.I like to use Hocker Title.