Cost and Price in Relation to ValueAppraisers carefully distinguish between their defined value, cost and price in refining their appraisal opinions.Cost is defined in USPAP as follows: "The amount required to create, produce, or obtain a property."

@Samantha Klein You need to distinguish between what shows up on your Schedule E as "profit" and what actually lands in your bank account.

I would refer to the area by a town name since if you invest in Shrewsbury or Holden you would distinguish that those are the areas you invest in.

What is going to distinguish you from the average wholesaler is that your intent is to actually close on the purchase and buy the place -- that is a good thing.

This means I had 4 units inside an apartment building.I would setup a class for the building, (because I would have repairs for the building, which the tenants are not responsible for) and then I would list the units inside that building as a sub class, (because units have their own repairs, and sometimes the tenants are responsible for those repairs)so by using the Class Feature of QuickBooks you are able to distinguish which expense belong to the tenant and what ones belong to you.Just a little tip.Nancy Neville

I have been reading intelligent investor, and its an eye opening experience, esp the concept of distinguishing between spectacular and investor.

@Blair Poelman  NP just pointing that out as you did not mention one way or the other.and I think its a little pearl to know if you find oneself in the position of a lender trying to do that to you...

But each has some distinguishing features, too.

Just conducted a little research and found an interesting case that points out the difficulty the courts had historically distinguishing between the status of trade or business v investor.

My concern in distinguishing between stagflation and inflation is that I am largely sitting on the sidelines right now because the deals I see aren't meeting my thresholds for returns.