I have also seen a lot of people make great flips with over average after return value.

My goal is to build enough passive income that I can leave land behind and sail around the world and never return to land.A little about myself: I'm 19, living with friends and paying rent, working a minimum wage job and not really having a lot of financial freedom to save or invest.

Many of our SDIRA real estate clients make returns that warrant the conversion.

I have SFR's in Bradley and in my opinion it provides the best return for the money invested.   

I am using Turbo Tax Premier this year as I don't have a complicated tax return filing (couple of W2s, one K-1, small things here and there).

I can honestly say the negative experiences turned me away from trying to follow my parents’ footsteps but I have returned full circle and have decided to think outside the box and put the negative memories behind me (not forgotten though).

Here is some IRS information regarding the penalties for not filing the 1099s. https://www.irs.gov/government-entities/federal-state-local-governments/increase-in-information-return-penalties-2

I will second @Linda WeygantShe is located in Colorado and was a BP podcast guest.In regards to your tax return - if you have an out of state business - you may be required to file a resident return in Colorado and a non-resident return in the states that your business transacts in.

We can put a line on the settlement statement called "return of earnest money" so that comes back to you and only exchange proceeds go forward in the purchase.

So in your case it is very likely that you would not be able to deduct those expenses on your 2017 return at all but would rather keep track of them and add them to the basis of your property, which you will report in the year that it is placed in service.