But ask your CPA/accountant because I don’t know. 

Day traders are not exempt unless they elect mark-to-market (MTM) accounting, which eliminates wash sale tracking but taxes gains as ordinary income.To manage taxes, track trades closely, avoid overlapping purchases, or consider MTM election if trading actively.

Just spoke with a business dev rep from BAM today, good conversation, said theyre not worried about rates right now and have plans in place to account for them. 

If you're buying it shortly and THEN after you own it will it be ready and available for rent-the costs will be capitalized and accounted for with the basis of the property as well (when you eventually buy it). 

Are monthly updates preferred as long as there is bulletproof accounting? 

I'm looking to create relationships with wholesalers, real estate brokers, contractors, real estate attorneys and accountants! 

They should be able to hold them accountable for how they handle their escrow accounts.

In short, having all the conversations and commitments in strategy, setting up LLC and all the fun docs of who's doing what, and I'd suggest even getting initial funding into account for at least EM. 

Much like what you've pointed out, the homes we could afford to put 50% down on needed a ton of work, plus we needed to set up bank accounts and such in Italy.This is something we're still looking into, but we decided that we will need to make it a vacation home/permeant residence for us and continue most of our investing in the US and other countries for the time being.

You will need to provide an explanation of the circumstances surrounding the BK every time you apply for credit, apply for a job, apply for a bank account, etc.Bottom line is if you’re working day labor type jobs for small companies and live on a cash basis it might not affect anything.