Repairs: The previous owner did not spend a ton on repairs.

A quick background on me. i served 8 years in the military, and ended up getting out due to excessive amount of time i had to spend away from my family.

Spend it all and your returns go up.

.$8.00 for a combo set...way cheaper than home depot and better than spending my time trying to rekey an existing lockset...

@Tracey HamiltonFor Flips - all money is posted to assets and liability until you sell them.For Rentals - Ask yourself - the differentiator is the money spend increases the value of the property?

Well, the more I personally spend on the first deal, the less cash I have to go around.

I plan on spending the next couple years learning as much as I can through flip and buy and holds. 

Every other weekend I'm actually not inside my house at all because I go out of town too spend time with my son, to whom the mother has custody of and I have visitation rights.

So I can spend more time with my wife and son and my very large extended family. 

Reinvesting it has no effect on the tax.Reinvestment within that activity, such as if you have a rental and if you spend that 15k to repair the house, which is expense, you wash out your income.