I have run across many tax professionals that understand the theories taught in school and in tax practice, but rarely understand the practical principles of transactions that are generally learned from transacting.

By becoming a principle in the transaction (i.e., you have a contract to purchase), its now, in some sense, your property to sell.However, you say "was marketing the home for another investor and like most investors, only bring out option contracts once a buyer is found."

I am a principle in every single transaction that I do, and when I assign my position as a buyer, I'm doing it for me.

Not because of QuickBooks, but because of general principles of REI bookkeeping.

I try to run my business based on those principles.

While I am making 3 mortgage payments for over $14,000 a year, about 2/3rds of that is principle, equity.

This is both CYA and principle.

Some people call it the KISS (or K.I.S.S.) principle.

One of the principles was indicted.

In Texas the requirements are two principles of Real Estate core real estate coursess , law of Agency, law of Contracts and an an additional core course.The community college where I live offers the principles I & II online and the rest class room courses.