Debit- (other Expense) DepreciationCredit - (Fixed Asset) Building: Accumulated Depreciation (under the Fixed asset category in QBO)You could get the calculation from your accountant; it's based a just a few factors.

You can also zoom out: if you factor in 3 years worth of appreciation, BRRRR's are working very well.

As long as you disclose that you are a licensed Realtor, it does not matter if you represent yourself or not, the key factor here is that the other party knows you are a Realtor.

The goal is for each of us to retain ownership of the completed buildings, though we're undecided on the ownership split.Appreciate any advice or recommendations you can offer. give a value to everything. your deferred GC fee which even if you do it for 5% markup I would so you earn something and aren't hoping something happens down the road.

So the alternative would be stepping out of my comfort zone and buying in another market where, theoretically I can get the same returns on an already built property including management fees.

The buyer can walk away with simply losing his option fee or he can choose to exercise the option.Options are like Ice Cream, there are at least 37 variations.

Instead of just wholesaling, clean it up and maybe make it livable, sell for more than just a wholesale fee.

Low entry fee and 3% Interest Rate How did you find this deal and how did you negotiate it?

It's a better program than FHA and has less limiting factors. 

If I were you, I will find properties for your friend and get a finders fee.