Semi unrelated, but being in the biz for over a decade and doing $200M+ in transactions, I've got to tell you guys, Doctors are some of the worst business people out there.

He used a gator lender to put in the money needed to finish the transaction.

TIAIf you have an electronic record (bank statement, credit card, accounting software, etc) of the transaction the IRS doesn't require you to keep receipts unless it's a cash (took real paper money out of your pocket) transaction for $75 or more.

the options I saw were :“Some lenders treat the transaction as a rate-and-term refinance rather than a purchase.

While there are some deals 50 units or larger that transact without a broker involved, they're definitely few and far between.

Tools like Baselane simplifies bookkeeping and tax preparation by categorizing transactions and storing records.Keep personal and business accounts separate to maintain LLC liability protection.Please don't use the same LLC for flips and rentals.

The thing that some sellers are having trouble with is understanding that this is now a variable in the transaction where it use to be somewhat set at the beginning of the transaction.

Be sure to fully disclose your role in the transaction, and consulting a local real estate attorney is highly recommended to avoid any compliance issues.

I’ve only completed one wholesale transaction before I started flipping.

Will it immediately move to full transaction price, or does this jurisdiction use some sort of flat percentage increase.You should know how frequently the property will be reassessed thereafter.