They'll also then be able to reflect these strategies on your return.If you are going to be doing lots of deals, consider a CPA that understands setting up systems within your business that can help you make better decisions and make more money (weekly profitability reports by property, weekly project reports on rehabs, etc.)And finally- if you are planning on doing your own taxes, don't do it the first year.

I have called several contractors who either do not show up at all or just do not submit a quote after looking at my project. 

How large of a project is it?

Keep in mind that those of us who've found a great contractor had to spend many years kissing a lot of toads and we're not so free to give out those names, as they'd otherwise get too busy with other investor's projects to keep working for us. 

Should I tackle this project as a first timer starting out?

Building a good relationship with a good handyman or general contractors overall in extremely important.There’s no quicker way to have a deal or project fall apart than when a contractor doesn’t do their job well. 

Rehab a property, then create a traditional mortgage to pull my cash back out for next project.  2)  Get home equity loan...rent out my house in San Jose, CA for a good amount of rent income...then use my loan to do a flip somewhere more affordable.  

Can anyone tell me how to estimate with the Rental calculator projected capital expenses for a rental property based on percentage? 

Only 50% of the project has been completed. 

Get that money to come home as soon as possible then  turn it loose on the next project.