Appreciation is never part of the cash on cash calculation.FWIW, I would talk to a CPA before turning an appreciated home into a rental. 

The gurus apparently aren't savvy enough to teach how to avoid trouble.It could end up being like a cowboy fest campfire dinner of beans from the old chuck wagon.

End of the year. 

Underwriting a new construction is like a flip on steroids in terms of volume, however you will find that you can get a much more accurate budget in the end because unlike a flip, there are very few unknowns going into it.

Your project will never turn out as good as it should because you are subject to what the stores have in stock at that very moment.3.

Quote from @Eli Edwards: @Brian Bohrer I can't believe I never even thought about calling the we buy houses signs.... that's a great idea.

Eventually, I realized that if I kept waiting until tax time to organize my books, I would never escape the stress (and extra CPA fees).

An example was a line item for alimony (I am single and have never been married).

I am on one property it funded although I was never told that until I discovered it myself recently.

You are absolutely correct - I have never done this exercise.