The Senate print accompanying the Deficit Reduction Act of 1984 stated that the intent of Congress in amending the statute was to "decrease the controversy and litigation arising under present law with respect to the proper tax treatment of start-up expenditures" by requiring expenses similar to those allowed as deductions in Hoopengarner to be capitalized.

A bird in the hand...

Bit of a tangent... but I'm curious to know what resources I can draw on during this year, as I think that there will soon be great opportunity in the real estate market as a result of the economic instability that accompanies COVID-19 and it's resulting economic turmoil. 

For the winter all of the Snow Birds will come.It may be difficult to purchase and existing camp ground as they are such good money makers they are generally kept in family hands.Good luck in your search but might think out of the box a little.

Thanks @David Nacco - Yes I have reached out to a few local companies already but haven't found one that is really willing to get into how they have worked with wholesalers/'bird-dogs' in Boston, so I'm still lacking some procedural info.

A bird in the hand is nice if your trying to build capital to do bigger and/or more projects but I would imagine the long term play will net you a lot more in the end unless you have deals at every corner which is unlikely.

Being my first property, I'd definitely like to accompany the inspector for not only buying purposes but also the education of what to look for.

I am fairly new to the REI world and am currently trying to bird-dog in Boston.  

Moreover, ask anyone well versed in combustion of natural gas utilization equipment such as your local gas company rep or an experienced licensed mechanical contractor and they will tell you unequivocally that not only is Aldehyde a byproduct of incomplete combustion of natural gas but is more often than not accompanied by carbon monoxide, an odorless, poisonous gas.

Depending on your current mortgage (if you have one) and the rate on that loan, doing a cash out might make sense as fixed interest rates are so low you could take cash out and lower rate killing 2 birds with one stone.