Here's a https://www.irs.gov/businesses/cost-segregation-audit-technique-guide-chapter-4-principal-elements-of-a-quality-cost-segregation-study-and-report to the IRS website noting specific items that are included in the cost segregation study report. hmm, that website is a 404 error.  

Many hundreds of wasted hours, that if included, would wipe out a significant amount of earnings. 1.

Upon "googling" I see where some folks include Debit Cards as not having to send 1099's, but I want to be certain.A lot of contractors lump their labor and materials together.

It does not include the rent income, just the appreciation, it is about 11%. 

But I have since found a better solution for my situation that does not include wholesaling the property.

It's important to note that you cannot include your primary residence in a 1031 exchange, as it must be held for personal use rather than investment or business purposes.However, your primary residence may qualify for the Section 121 tax exclusion if you've lived there for at least 2 of the last 5 years.

You should track your own units expenses as well so when you move out, you can quickly reclaim any expenses or depreciation you built on the personal unit when converted into a 2nd business unit which would then be included on your schedule E.You also write off half of your property taxes, insurance, HOA dues, or any shared expense.

I have flipped 30 houses, including having 10 projects going simultaneously, one of which sold for $1.8 million.

@Anthony Finelli check your mortgage paperwork for the Truth-In-Lending form to find your APR.APR is your effective interest rate including interest, MIP and closing costs.If you can refinance the rental at a cheaper rate than the APR, then you should!

This included modernizing the kitchen with high-end appliances, upgrading bathrooms with spa-like features, and adding hardwood floors for a luxury feel Lessons learned?