And of course we're in agreement on consulting a tax pro.

If you didn't receive any income but you had legitimate business expenses, you should still file a Schedule C to deduct those expenses. 

Baselane has the added advantage of synching with your Schedule E you'll use at tax time to file your taxes.

I suggest you enter private money goldmine in search botton at top right of the screen and read the previous posts....here is one that gives good perspective as well as a link to legitimate private lenders.http://www.biggerpockets.com/forums/92/topics/1488...

The greatest property tax sale state

A legitimate wholesaler will likely have more off-market opportunities in the pipeline that you can explore/analyze.

@Richard Bautista could be legitimate, but could also be a "churn & burn" situation.How will you know the difference - before it's too late?

So, when Trump changes to no tax on tips I feel inclined to change my rental income structure.50% reduction in rent.Previous 50% made up from a mandatory nontaxable tip. 

In my experience, the good ones are expensive, typically require a subscription, and sometimes they even do a physical inspection of your premises to verify it is a legitimate person / business in US.

The lender is legitimate, they are the local credit union and I have a bank w them.