This post does not create a CPA-Client relationship.

Accurate records of all expenditures are essential to claim deductions and calculate the cost basis for future capital gains taxes, including depreciation recapture.This post does not create a CPA-Client relationship.

Thanks for posting this.

This is an excellent post. 

Do you need an S-Corp depends on your overall tax situation and profit you are expecting form this flip.This post does not create a CPA-Client relationship.

Originally posted by @Justin Elliott:Think I am going to give Freedomsoft a try, will keep you guys updated in the following weeks of how it goes. 

Thank you for replying to my post!  

Hey @Chi Lo - I actually have a video on my YouTube page about this (lookup ClosedByMo on YouTube).Regarding walls being damp and waterproofed, it means there needs to be waterproofing on the basement retainer walls (this is something you can do post-construction and the contractors would need to dig around the house exposing the basement/foundation to apply the waterproofing). 

Specific technical issue that triggered this post.

I'm looking at Duluth MN because of a video posted on BP, but I recognize this is an opportunity most would dream of, because it's one I've often dreamed ofWell now it's in my lap, and the pressure is on.Hit me with your scenarios, what would you buy?