An LLC is a pass through entity, and flips under 1 year are treated as ordinary income.

If you are able to implement a real estate professional status tax strategy (REP) you can use passive losses from syndication deals to lower your ordinary W2 income.

He paid to have several old trees taken down, installed a huge chain link fence for his dog, added a cement poured 20x30 patio.

The wholesaler will have to pay ordinary income AND self-employment income taxes on his profit from the deal. 

@Derek Whitener A flip is ordinary income either way, subject to the self employment tax.

Patio door: seal between threshold and interior floor5. 2 florescent light fixtures aren't working in the garage6.

One idea is to tidy up the backyard, possibly add in a patio area, and buy a propane grill that will be available for all the residents to use.  

Many times you can't tell whether a homeless person is just an ordinary person who has run into extraordinarily bad circumstances, whether s/he is mentally ill (sociopaths can be charming), or is a criminal. 

We owned the house 11 months, so it's taxed as short term capital gains (ordinary income). 

Distributions are taxed at your ordinary rate and will not be subject to SE taxes while the salary you pay yourself will be subject to SE taxes.Example: S-Corp generates $100k and you estimate that a reasonable salary for someone in your profession and area is $60k.