QuickBooks Setup:For flips, I’d use the following accounts:Flips in Progress (Inventory)FIP - Purchase PriceFIP - Buying/Closing CostsFIP - Rehab CostsFIP - Holding CostsFIP - Selling/Closing CostsReal Estate Cost of Goods Sold (COGS)COGS - Purchase PriceCOGS - Buying/Closing CostsCOGS - Rehab CostsCOGS - Holding CostsCOGS - Selling/Closing CostsAt year-end (e.g., Dec 31, 2023), move flip costs to inventory and back into COGS on Jan 1, 2024.

Please keep us posted on your progress.

Due to past poor management of the environmental infrastructure, the river has become illegal to swim in in certain parts, and after rain falls the entire river is off limits to swim or fish in due to the heavy amounts of pollution ending up there that the city has not had the infrastructure to deal with in the past.But this all began to change in 2017, when the Virginia General Assembly passed the largest infrastructure project in Alexandria's history to make the Potomac River swimmable, and fishable by the year 2040, and they have made significant progress recently with the completion of the 2 mile long, 100-foot deep Waterfront Tunnel named Hazel.Named after environmental activist Hazel Johnson, the Hazel Waterfront Tunnel will prevent millions of gallons of combined sewage from polluting the region's waterways.

Looking forward to seeing your progress!

I will let you know when I come to Philly in 2025 because I'd love to see the progress as it goes.

Keep us posted on the journey.BiggerPockets forums are a great place to go if you have any questions, want to learn from other investor's progress, or if you're just looking general feedback. 

While insurance might cover the reconstruction of your property, the community's recovery could take years or, in some cases, never occur.

When it's against you, your progress slows, but you can still move forward.

Try researching organizations like Oxford House, which operates sober living homes nationwide, or check directories like TransitionalHousing.org for recovery housing programs in your area.

I will post some progress as I get into the renovation after I close and share more numbers of my cost.