you do have the ability to close your account at any time. 

Meaning they went into a standalone bank account (not mixed with your other personal funds). 

However, the depreciation claimed while the property was a rental must be accounted for upon the future sale of the personal residence, which could increase your capital gains tax liability.The adjusted basis of the property (original cost minus depreciation) will be used to calculate gains or losses at the time of sale.

Feel free to reach out with any accounting questions.

Does the cost per sqft account for electric and plumbing? 

I am reaching out for your expertise regarding a situation involving a seller from who I purchased a property subto an FHA loan in March of last year.

The other two don't take into account the time your money is tied up.  15% of ARV is great, if your flips take 3 months. 

Can you set up an account and post a rental directly on Zillow if you are not a realtor? 

(Michael's posts are a great resource for this, but still no substitute for working directly with a tax accountant that's well-versed in all the ins-and-outs of this.) 

Again, there's time and cost involved because they are unlikely to get everything.4.