And, it will really teach you a lot about people and life in general.Our government employees in Washington D.C. would benefit greatly if they left the marble hallways and managed a number of residential properties.

Not reporting it on Schedule E does not mean that it is not investment property, but certainly helps shows as part of your pattern of holding for investment.

replace 2nd bath tile (dirty) with bathtub insert replace master shower (currently cultured marble??

It appears the house was framed initially, then the code changed and 2x6's are required on outer walls, so they actually built a matching frame, attached steel bands in a criss-cross pattern to cross-brace, and attached the newly framed outer wall to the existing.

Over time you will start to see patterns.

Look at the return pattern of the Wilshire 5000 since 2009, in the teeth of a lousy economy, all driven by irresponsible Fed behavior.

., whatever pattern makes sense and fits the time you have available.

Use descriptive, straightforward terms that tell the physical attributes of the home (like marble, spiral staircase, gourmet kitchen, and solid bamboo flooring).

Your partner deferring payment until the prop sells is perfectly fine and makes sense to mitigate the risk of running out of money (which would necessitate borrowing from a party that is not disqualified, or selling project "as is", likely at a loss).If you had personal cash, you could also partner with your IRA on the front end of the deal (take title in both names), at a predefined % split.Be aware that flipping profits in IRA accounts are potentially subject to the stiff UBIT tax, based on "intent" to flip, which would be determined by the facts of a given case, as well as pattern of activity.

…or that a pattern of selling the options inside of 12 months shows intent for active dealing and not passive investment?