In search of good contractors for renovations on porches, patios, kitchen, bathroom, drywall, flooring, painting etc.

After you get the value, you can adjust the valueby adding features that have been updated/upgraded,side rooms, patio, porch, carport, etc.

The industry term for this is “dealer property” there is a great deal of case law on the issue as to what you should be considering in performing this analysis.If the property is treated as inventory, the gain is ordinary income, not capital gain.A conservative approach is to hold the property 2-years post completion to treat it as a capital asset.You should speak to your tax advisor on this issue as it is a complex analysis.

Account Closed said, you keep track of that travel and those expenses could be added to the basis of the property if you have identified the property before making the trip (Just the market investigation trip is not added to basis) Flipping and development: You could possibly deduct the travel to another state if you have a flipping business: 1) Flipping business is reported in the Schedule C or as an ordinary business activity if you have an entity, and travel cost to acquire the other properties can be deducted if planned property. 

When you take 401k withdrawals it will all be taxed as ordinary income.2) The fact that many real estate investments come with tax advantages when invested outside of the 401k.

Is it possible to report unpaid interests as ordinary income or capital gain tax? 

Same here - my CPA seems to think that loan reduction boot is considered as "ordinary income".

I assume that this would then be taxable with the interest portion as ordinary income and the principal payments would be taxed on 25% of that payment (the same as the ratio at sale time of property #1)? 

Large Patio for Entertaining 6.

For example an email to your property management company dated pre-departure or something.Another thing that the book stated was that the IRS tax code uses the words "ordinary" and "necessary" for expense write offs.