Most likely your conclusion is correct, but the only way to confirm it is by having a real estate accountant review your tax situation.Also, please read this introduction if you want to better understand the concept:https://www.biggerpockets.com/forums/51/topics/1075919-five-...

In other words, not resold to the government so the bank had more flexibility on the condition.I look at the original commitment letter and it states "xxx amount will be advanced at closing for the purchase of an investment property, and the remaining balance of the loan to be placed into an escrow account to be disbursed as improvements are made".No points, and only one closing, so I don't have to deal with a short term HML that I have to refinance in under a year.Hope that helps!

I have totally given up on Quickbooks though it remains the best accounting software for the non CPA type 

To succeed, focus on properties in high-demand neighborhoods like Pecan Grove or Aliana, and ensure your cash flow analysis accounts for high property taxes, potential HOA restrictions, and flood insurance costs.

It should cash flow 400/month after taking taxes/HOA into account.

The ultimate answer is no (and I'm not a tax accountant).

There's no Airbnb calc tool that really accounts for creativity and its financial value.

We plan to stay in this house for more than 5 years unless another great opportunity arises, but maybe it is best to allocate a bigger portion of savings to our real estate investment savings account than our home improvement savings account for the first few years.

I flip with cash, not loans, mainly because there are not enough deals out there that meet my highly selective acquisition criteria, so no need to pay interest on cash otherwise sitting in a money market account. 

We use DealCheck to underwrite deals and QuickBooks Online for everything related to accounting and budgeting.