Well, you can, but if there is an audit, the deduction will most likely be disallowed"i thought that as long as i provide receipts (and i do keep 100% of all receipts), i am all set. luckily it's been just 1 tax season with no single contractor getting over $600 for me.once again, thanks so much for the clarification!!!

Grant Kemp The clarification made by Steve Babiak is what I was referring to.

Let me know if you need clarification.

@Wayne Brooks thanks for The clarification.  

@David Gonzalez Thanks David, that is the goal and needed more clarification as to how to determine that value and @Scott Choppin helped me understand exactly how value it. 

My main question here is: What actionable/attainable steps should I take to get started in obtaining buy and hold rental properties (either in-state in California, which sounds difficult from what I have heard, or out-of-state, which more affordable)?

. ($50k vs $110k)  It has the most educated population in the country with educational attainment rates about double Baltimore's as well. 

@Christi Hawkins and @Jay HinrichsHappy to once again provide clarification.

@Jesse Streng thank you for the clarification.

We have several wholesaling podcasts you can check out, in addition to a wholesaling section of our blog and an entire forum dedicated to wholesaling.Check out Show 37 with Aaron Mazzrillo and Show 42 with Mike Nelson.Please don't hesitate to reach out if you have any questions or clarifications.