My parents have used the same tax guy for years and this is my first time filing independently from them.I was under the impression that I could write off items/tools purchased to rehab my duplex I’m house hacking, but I am being told otherwise.Can anyone shed some light on this for a tax newbie?

@Mike Freske most of us on here have a goal of using rental properties to secure some form of "financial independence" or passive income. 

@Harry Aiken - welcome Harry - happy to see another Alaskan pursuing financial independence on here!

Also, you will need to hang your real estate license with a broker in that state as realtors cannot operate independently. 

An additional product you could get is a BPO (brokers price opinion).Besides, if you do the appraisal beforehand, and if you are doing a loan from a bank, they will have another appraisal done so it is independent and not directly working for any of the parties.

I now want to become more independent and start working with other people on own.I recently joined a real estate club at my school, of which I joined the executive board, and that is how I heard about Bigger Pockets.

Im here to hustle and grind it out for my partners and I to reach financial independence. 

Please verify this independently but I did read (a long time ago) that ICNA came out with a ruling allowing interest if it's below 30-40% (again, not sure about the exact #s) of the entire capitalization.I wouldn't dabble in real estate if you want to scale up quickly without leverage.

I believe that time and effort come in depending on how hungry someone is to be successful.

I would recommend asking for the estimate documents and ideally independently verify the quotes for the construction  Exit Strategy: What is the strategy for this deal?