It's kind of weird being my moms landlord but she thinks its great and she loves the house so I know she will take care of it even though I take a $150 loss each month . 

I'm running behind schedule now so I'll just have to eat the loss at the moment and continue moving forward.

Short answer: you probably have to claim it in 2015, but you can carry forward the net operating loss to apply against subsequent years. 

When done I print out a detailed Profit & Loss report, and then put those numbers into Turbotax (Home & Business).  

For hazard coverage, many investors only carry actual-cash-value policies which payout a specified amount of cash in the case of a loss in order to protect the total investment.  

If you don't setup correctly, and optimized it in the right fashion then you will just loss money and time.People think just having a website online enough which is 100% false.

While developing those relationships, I have taken losses and learned the hard way.  

If not, sounds like maybe cutting your losses would be the alternative, always remember to have the funds first because there's always a deal coming.

Especially if it involves the loss of a limb, permanent disability or death.Lastly, it wouldn't hurt the project owner to carry a RIDER for a specific project on their own homeowners insurance should they own a home as the plaintiff's attorneys will surely be looking under every rock for people, places and things to name in a lawsuit. 

I get it for rentals, where you can accrue rent/expenses based on time vs. payments, but for a flip the earnings process isn't substantially complete until closing.The other question is why you'd want to accelerate rev rec into 2015, unless you're taking a loss on the transaction.