Think of it exactly the same as a regular IRA... you CAN access it, but the same big penalties and taxes would be due. 

That said, I have paid for enough $100 service calls that ultimately came down to replacement of the $5 flapper that I have decided to just buy a bulk quantity and replace ALL flappers in ALL my rental properties on a regular basis as preventive maintenance (I do the same with air filters for the HVAC because we all know how good the average tenants are at replacing those...).  

This is not really any different from any other REI source but it is very important to get right due to the limited information and time sensitivities of buying at the auction.I have to say while we regularly buy in multiple counties (4 this month), Harris seems to be especially competitive as are Dallas, Tarrant, Travis and Bexar. 

This would also give me way better knowledge of finance and ability to get good jobs long term, if I need to work a regular job.Can't wait to hear all of your thoughts, thanks everyone!

I've quietly viewed enough churches and paintings already; my goal was to break the insurmountable barrier of politeness and actually make contact with regular people, people who aren't trained in the hospitality-industry art of being efficient and polite. 

Either that means you were doing regular maintenance all along, or she was doing regular maintenance all along, or she was not reporting problems as they occurred, or you were not doing regular inspections and finding problems as they occurred, or else the house was new and nothing was going wrong. 

I make them refer to it regularly since it is the basis on how I can run a 100k a month wholesaling business.

No - Once losses are on Schedule C, it follows the same rule as regular business losses - pretty much unlimited against your other earned income and also subject to Net Operating Loss rules.  

It seems to me unless someone is physically going there on a regular basis there's really know other way to get this data.

Tax benefits go to the landlord with depreciation, the flipper has regular income.