Welcome to BP @Andrew David Evans  Are you looking to start wholesaling or rehabbing?

Looking for sources...Andrew MSE Virginia

I recently purchase an SFR in the Garfield district of metro Phoenix for two reasons (cash flow and potential appreciation upside for gentrification).I purchased the property well before learning about the 50% rule and it looks like the cash flow will be negative unless I luck out with expenses.The place is newly renovated so there isn't much room for value add reno. 

@Andrew R.

Thanks Andrew!

Hey @Andrew Samia,My recommendation would be to have a local agent pull comps for you from your MLS.

-Andrew

Hello,My name is Andrew Meyers.

What Andrew really meant to say is that if your LLCs are treated as disregarded entities for federal income tax purposes, then your LLC activity is reported on your personal 1040 as if the LLC did not exist.  

Thanks for your answers, Andrew and Jake,When I said 16 IRS categories, I actually mean lines 5 through 19 on IRS Schedule E.