Technically wholesaling is not real estate investing per se.

I try and put every expense into a specific category of the SE.

But I would not think of it as negative cash flowing per se.  

must be something in the air waves.as for PMingthere is a legal counsel contact for every one of my clients as they are organizations; as for me i dont 'call my lawyer' i am an individual sole proprietor and so far, always pro se. litigious america, gotta luv it, eh?

As for actual capitalizable expenses, the recovery period depends on the asset.https://www.irs.gov/businesses/small-businesses-se...https://www.irs.gov/publications/p527/ch02.html

This is because the VA Loan isn't really a loan per se but actually PMI. 

@Clarke Wegener, if a taxpayer is a real estate professional for tax purposes, rental real estate losses are no longer per se passive.  

Now I don't want to say never lowball per se...because I think it's important to be able to determine the value of a property completely independent of the list price.

Im a wholesaler in the SE Michigan area.  

I'm in the process of a property line partition in SE and it been quite an experience.Feel free to reach out with any questions you may have.Good luck.