If you want this reflected in your financial statements, here is our process: We move the COGS to inventory on the last day of the year and back to COGS on the first of the following year.

.: Does he have a 'method' and a legion of cult like followers who refer themselves as a creature often used to make boots, wallets and belts? 

If you decide to do it in-house you'll probably want the following...

PROGRAM 2 Owner use up to 3 weeks 40% of Adjusted Gross Standard FF&E in high season & 3 weeks Revenues from the Unit and accessory in low season package required.PROGRAM 3 Owner use up to 6 weeks 30% of Adjusted Gross Standard FF&E in high season & 6 weeks Revenues from the Unit and accessory in low season package required.HIGH SEASON: DECEMBER 21st - APRIL 15th LOW SEASON: APRIL 16th - DECEMBER 20thNote: The following fees are deducted from the gross revenue before the split:5% Management fee, 5% Travel Agent Commissions, 2% Credit Card Commissions, $4.00 per occupiedroom night (TRUMP Fee) & Group meeting fee may apply.Other Monthly Fees: 4% of the gross revenue is moved to the FF&E Reserve account and approximately$20 for liability insurance.Monthly Condominium Dues: $895.57 (These can be deducted from your monthly revenue)Initial Rental Program enrollment fee $500 and $2500 initial FF&E Reserve account contribution.Fees for OWNERS STAYS: In Rental Program (Optional): 1

Failing to follow proper procedures will cause even more delays.  

Quote from @Hector Espinosa: Hi All,I would like to hear your comments about the following property, which I think, based on the analysis I made, seems to a be a potential good investment:* Purchase Price: $98,000* Monthly Cash Flow: $310* Annual Cash Flow: $3731* CoC ROI: 15.86%* 5-year annualized return: 15.35% (with a profit if sold of $25K)Also, what are some of the disadvantages of buying old houses? 

By following these steps, you can successfully execute your first BRRRR investment in the Austin area.Good luck!

If you go gung-ho, follow substitute trustee (S-TR or equivalent) filings in your county. 

Many are just following the practices they’ve been taught (although if you choose dishonesty, some responsibility does lie with you too).For any wholesalers interested in learning how we approach wholesaling ethically, just let me know, and I’ll gladly share a detailed post on it here.

Im just interested in his strategy and im not seeing many people talk about BRRRR investing with incorporations of Section 8.Im new to the industry and just looking to follow the footsteps Nevertheless, Thanks for the input Yeah, I may have heard of him for Section 8 now that you mention it, but that strategy is not for everyone.