There are some key differences to look for, mostly revolving around the water bill.

Just got a secured card and two other revolving accounts in the past 6 months.

Will the CAM fees assessed on top of the rent to the office have some operations profit for administering the arrangement?

.), for which you should consult a knowledgeable CPA, but those revolve around shifting areas of taxation and deriving additional benefits.You'll want to do your flipping in an LLC (and if you plan on doing multiples, you should look into Series-LLC) for liability purposes (,  so that if a buyer of one of your flips comes back years after the sale with a lawsuit, you are protected).One way or another, the money gained from flipping is active income and you'll have to pay taxes for it.

We NYers, we think the world revolves around our world view.

Another benefit of the LOC is the revolving credit, same as the credit card, which allows you to reuse the money as soon as you pay it off.There are a lot of options for you and having that much equity is certainly a leg up.

The difference in pics with a DSLR vs cell phone cam can be night and day.

Hi @Josh Dehmlow,As has been previously mentioned, you do not necessarily need someone based in Missouri because your tax planning will largely revolve around federal tax laws. 

If you max out your credit line (revolving credit), you’ll take a bit of a hit on your credit score.

The same common sense rules apply to most things on your credit report - maxed out revolving credit cards and late payments hurt your score, while responsible use of debt and on time payments increase your score.