One of our consultants at RCG has parks that could only be classified as one star parks and he even has his manager take people to banks to set up checking accounts for automatic withdrawal if they don't already have one - apparently most of them don't - and if they have a regular paycheck , or SSI, or SS, et al. gets those payments directed to that account. 

@Paul Ewing is right in his statement that the equity will likely be classified as a gift by the parents to the daughter.

I prefer open house on Mondays 5-6 after a classified ad in Sundays paper($13).  

My initial thought now is to still consider that as a credit (since I did in fact receive those funds off my closing costs from the seller), but to instead classify that as Misc.

Ebay (Ebay auctions or classifieds) to use as a wholesaling tool?

@Jake KinoshitaBuy and hold business is much different than the flipping business.They have a separate chart of accounts as items should be classified differently between the two businesses.You should be able to use any software to do the books for the flipping business.

If the asset is incorrectly classified, this mistake could cause an overpayment in taxes.Compliance Issues: If you fail to meet certain compliance requirements such as permitting, licensing or regulatory requirements, this could trigger large tax penalties.

I would classify it as a C property.

Pulling my hair out on this...I have no idea which to classify this as.

I've done some driving around to try and figure out how to classify some of the neighborhoods (A, B, C, D, etc) and thought that was probably the case.