All groups have mentioned, wanting to try our hand at flipping independently, and I thought why not do it together. 

It all boils down what you can demonstrate should you get audited. 

I've seen other people in the forum who simply use independent savings accounts but it is not clear to me if that is legal.

This year I am ready to make my first step towards financial independence.

Have you tried a local independent agency?

Steadily has their own product (with multiple writing companies) and then they offer policies through other carriers just as an independent agency would. 

Which is very complex and costly and likely warrants professional help.Now, if it's just you and your spouse, then your 2024 tax preparation is likely relatively straightforward:- you will create a Schedule C on your personal tax return- you will NOT report any costs of purchasing the property or its rehab, not in 2024- you will report your business overhead expenses such as marketing, driving, technology etc- you will end up with a business schedule showing zero income and some expenses - not breaking the rules but potentially raising an audit flagCan you do it yourself?

I also would like to reduce the audit risk due to large bonus depreciation. 

If the IRS gets busy auditing them, maybe they will leave you alone.

This means I can sell my share independently.