Meanwhile start saving up for a down payment, networking at BP and Meetups, and learning with books and podcasts

I am not a CPA so am not giving tax advice though!

That's just a bit of where I'm at right now and I can't wait to network with the community further!

When I mentioned it to my CPA he went more of the route of capitalizing/depreciation so I'll explore both options with him.I am considering selling the property once this rehab is complete, so depreciating may be useless if a portion of it is going to be recaptured immediately anyways.

There are some really great real estate CPA’s on these forums.

Learn the basics first, take action and do some deals and always search for more knowledge and network network network and if you got your head on straight you can turn into the NFL Super Bowl champion coach.

I would like to preface that I've already sent this to my CPA (so please don't suggest "Contact your CPA") I'd like to hear from the BP community and your ideas and thoughts.

I see that you're a CPA, that's awesome.

We have finally gotten settled over the last year and I am ready to start my local networking and meeting like minded investors. 

I'm planning to stash my commissions to help build down payment money for my own brrrr buy and holds, much like wholesalers often plan to use the capital for more traditional investments, but being within the law, I'll be able to network and build connections without being shady.