If you are only flipping a handful of houses a year, you can probably get by with a spreadsheet, but here are some important items you need to track/consider for tax season & business management:Tracking Project Expenses & Revenues to calculate your project Net ProfitTracking Assets/LiabilitiesProfit & Loss Statements showing Profitability of each projectTracking how much you paid each vendor/contractor for filing Annual 1099sActual vs Budget Tracking so you can see what repairs were over/under budgetBank reconciliation to make sure your accounting books match your bank statementsProvides a history of the business, so you can track financial progress or pull past financials in case of an Audit

If looking at this correctly, it will place us essentially into the "financial freedom" area we've been striving for (but we will still keep our day jobs).  

Which leads me to my goals in REI - the end goal is to build a rental portfolio that will provide enough income to allow me to quit my job, but I'm not in a place financially just yet to start that.

Build in risk mitigation and move forward, don't make financial strategy around nostrodomus.

He is a financial guy and here is what he told me:23 UnitsAlmost always 100% occupancy12% Cap RateBuilt in 1993Asking about $1.5MMNo agents would be involved in the deal on either the buy or sell side. 

Obviously, that requires you to have the financial resources to actually close on the property.

It may be easier to act like a bank offering some people a financier with a lease option  and make them your typical lease people because they  want they want home ownership someday and become an owner but they did not previously qualify for with a loan from the Bank. 

Is there a way to buy the SFIC cores and change the pins in house with reasonable time or financial commitment? 

My goal is to own quite a few flourishing properties in order to have financial freedom and eventually move towards part-time teaching and more full-time investing and looking after my properties!

I plan to add value and learn more about real estate and to provide insight on the tax laws surrounding real estate as well as financial planning.