Quote from @Nathan Frost: Quote from @Jay Hinrichs: Quote from @Nathan Frost: Quote from @Nicholas L.: @Nathan Frosthello. 

In my Chart of Accounts we list each account separately and then each one is easily listed on my P&L.

Quote from @Alan L.: I just read Scott's Slow Flip book.....(1) Is it still feasible to buy houses for $30,000 -  $40,000 in this market?

Quote from @Nicholas L.: @Lolo Druffi'd pick a market that's easy to get to, where you can be in person - perhaps (gulp) even in California. 

@Darin L.

L.

If you have a regarded tax entity, e.g. partnership, S Corp, C Corp, you need complete financials -- P&L and balance sheet to adequately prepare the tax returns and answer tax related questions. 

Quote from @Nicholas L.: @Shaheen AhmedI don't know the Ohio markets as well as I know Pennsylvania but (1) taxes can vary widely among counties, cities, municipalities, etc. and (2) the problem right now is that interest rates are so high (although taxes and insurance increasing certainly doesn't help.)What are you trying to accomplish?

@Scott L. the issue with the idea of using the 10k to just pay down the principal is that then it's gone and you can never see it again - in a HELOC you can take it back if there is a need for it in the future.The next step on this ideia is that you have a HELOC as your emergency stash, so that you can always access it if there is an emergency, but you don't pay any interest if you don't and you don't have money sitting around in a checking account or under your mattress.

@Chris L.