The IRS doesn't recognize pulling cash out of your property as income. 

You don't want to conduct rental activities under your flipping business umbrella.If you are planning to rehab then flip these properties,All of your costs are accrued as cost of goods sold and recognized in the year of sale. 

The key is having a clearly defined criteria and knowing the neighborhoods well so that you recognize a good property when you see one. 

For others seeking an answer: After a chain of phone calls I eventually called the MLS itself (the prime authority on such matters) and it is perfectly acceptable for an agent to have a discrete MLS login for an unlicensed assistant.

Now, I will pause here to say that I do recognize that some people do invest for appreciation, but I do not believe I am skilled enough to try to assume the market based off of MY experience.

Then there are independently owned agents who are authorized to issue policies for one or more underwriters.Escrow is a separate function that is frequently handled by the same title company, again as a matter of convenience though it can be handled by a separate escrow company.

Not trying to beat you up, but best to recognize the strengths and weaknesses of your position.

While I recognize that your leverage will decrease over time, at least currently you won’t have much to protect if you are heavily leveraged.

I am comfortable with the decision because I am using an FHA repair escrow, so many of the issues recognized by the appraiser will be covered in the repair escrow.

So that is when the gain would be recognized.