Using a large RV or boat for business purposes offers potential tax benefits, but it's essential to navigate IRS regulations carefully.

Flipping is more than likely to be considered trade or business.2) Rentals: Rentals are not considered trade or business for this purpose, so initial inventory costs cannot be deducted as travel expenses.

., for estate purposes), that value would serve as your basis. 

I wrote the above for informational purposes.

This is for basic informational purposes I am not an attorney and this is not legal advice.First, if you offer to purchase a property using a HELOC to fund the purchase you cannot later back out of the agreement because you couldn't find PML or investors.  

I wish I could say that I'm venturing into real estate investing for some benevolent purpose like providing low-income housing for the needy... but financial gain is certainly my angle lol.

If you are passive in those rentals (not real estate professional for tax purposes which requires 750 hours of real estate), and your Modified Adjusted gross income is over $150,000, then the cost seg is not actually going to save you any taxes. 

He testified that he used his personal bedroom exclusively forbusiness purposes but later testified that he slept and ate in his bedroom.

I don't have personal experience with it, but when the app was first developed, I contacted the developer and put the app through a fairly robust test usage to see if it's something I would want to recommend to my clients (I'm a CPA).I think the app is great for its intended purpose and I do recommend it to my clients now (and have for about 18 months now). 

But I noted that places like North Tonawanda as @Pravit Jarriyapurttipong mentioned are actually outside of Erie County, it's in Niagara County, which follows the stricter landlord laws as New York State... https://ag.ny.gov/sites/default/files/changes-in-nys-rent-la...Would you recommend sticking to Erie County boundaries for this purpose?