I understand IRS likes you to spend time on books, but I believe my receipts are all the proof that is needed when they come for us.  

@Jeff Glass Okay, I looked up Monetized Installment Sales and understand now.

Even if it wasn't, your agent should've asked the seller to provide proof of deposit for the previous 12 months.

Should I improve the property and use as a proof of concept to see if my market can handle a higher rent factor?

They are bullet-proof, cheap heating costs for the tenant, and cost about one third the price of a furnace. 

I am looking to use some of my own cash plus hard money for my next deal, but how do I show proof of funds to get the deal under contract if I have to have it under contract to apply for the hard money?

The inspector said the electrical outlets need to be replaced with tamper proof outlets.

Moderator Note: Do not post duplicate posts in multiple forumsBackground bullet points: A couple move into a unit on August 14, 2017.Tenants broke up in October, she moved out.

Even though I was below the deductable, I had to show proof to them that the repairs have been made so that they can be assured I won't accumulate repairs and pile them up on the next hurricane. 

I was told by an agent that I needed proof of funds before I could submit it