It might be more commonly recommended to go to an accountant for that but, in my (very limited) experience, I'd advise you look for one with a considerable portfolio of their own.

I have used arlington heights heating & cooling out of elk grove village,il to service my rentals.

So, I have dropped it considerably. 

What most new Investors don't consider is that if your first Investment is a complete nightmare... think of the movie "Pacific Heights," you could very well end your attraction to Investing in Real Estate.

Furthermore, be careful to look at more than just beds and baths for comps but also to limit consideration to those within a 20% range in square footage for comparison.

Just someone doing conventional mortgages that'll show you how the math works, so you can take that into consideration.

It may also impact you with non-traditional lenders, who usually have a net-worth requirement and take into consideration your assets and liabilities. 

What are the income tax considerations related to house flipping ?

It didn't look unattractive and their back porch had great views as a result of the height.

They have money or some form of consideration beyond sweat in the bargain.This is arbitrage.Truth be told, most people who start by wholesaling do not have the capacity to purchase the property they get under contract, so they are not investors.