However, I've found that by regularly checking Zillow, I can find relevant listings about as well as those automated searches.I've heard that agents can see information in MLS that ordinary mortals can't, and that this information can be valuable.

Some minor monthly expenses but nothing high or out of the ordinary.

For instance, you have ordinary income (income from performing a service like flipping a home, selling inventory, or working a W-2 job).

Rather than giving you the list, first, let me say that you can deduct expenses that meet these two criterions: Ordinary Course of BusinessNecessary in the course of businessHere is the list some of the items:1) Mileage: any mileage that is associated with the rental activity.

Unfortunately, not all of them specialize in real estate taxation.For one to claim a deduction - it must be ordinary and necessary(and reasonable) in the business that you are in.Rental properties go through wear and tear from year to year.

Would his be ordinary income as part of his construction business as he did most of the work and paid his employees as contractors. 

@Brit Dunlop  Yes its definitely commercial loans - mixed use. your best bet is probably a local bank or try to get it at seller financing.The good news is the 2 apartments shouldn't be hard to fill in, the shop could take longer. are you dealing through a broker or the seller directly?? 

For a”flip”, cap gains do not apply....it’s ordinary earned income tax along with self employment ss/med(15.3%).

Generally speaking this would be an advertising expense for the business as long as the cost is ordinary and necessary. 

There is some talk on wanting the IRS to clarify if it must be capital gains or if ordinary gains would qualify as well due to certain language that only refers to "gains"From what I have heard the reasoning behind requiring capital gains to fund OZ investments is to trigger sales and spur economic activity (you must have a sale to trigger capital gains) as well as to get some idle capital gains taxed even if they are deferred until 2026.