More specifics on what you're looking for exactly can help us direct you in the best place! 

I would use money from a HELOC that I have open to fund the down payment, but as @Scott Trench stated recently on the podcast, that is a short term solution, and I don't want to hold that $48k debt for more than a few months. 

Me personally, I’d check the contract and try to meet with both the architect and contractor to find a solution. 

I would recommend to buy in your local market for your first property... but I also realize every market is different and might not be affordable or the best solution. 

You will incur two types of costs when it comes to a flipA) Costs directly related to the propertyB) Overhead costs(I.E.

You can scan the receipt with your phone using the QB app and it loads directly to the program.

You are required to file a complete and accurate return, which means reporting the income that you earned along with atleast the direct expenses that you incurred on your rental.There are two comflicting forces - Your tax accountant wants to be aggressive with deductions because it will entitle you to paying less taxes(now or in the future).Your lender wants to see as much income as that will increase your Debt to Income Ratio(DTI).The good thing is that you can speak with your lender about 'one time expenses', that were only incurred in that year and are not reoccuring. 

In regards to the numbers you're calculating they seem to be relatively conservative in my opinion, to be direct it's more than I use for homes that are in good condition.

@Tessa Mac You can certainly rollover your old 403b plan into a self-directed account. 

Hey everyone, House hacker here looking for some legal direction with taxes.