And since we are not talking about long-term capital gains (property held less than 12 months) then rehab expenses that I would normally think of as being capitalized (like adding a new bathroom) are not really capitallized (and depreciated) because of the short-term nature of this type of transaction.

I discovered options, ran ads, routed all calls to my cell phone, and just did it without her knowing.

You may have to have a D/B/A name in those states if you run into any problem, but I wouldn't think there would be any.

We've added the ability to add references so you can see if that contractor has people who recommend them and their work.I think our Mini Tutorial of the site might be helpful for you guys:http://www.biggerpockets.com/sitetour/tour-features.htmlHave a look and let me know if this clarifies anything for you.

GaryEDIT: Added numbers and corrected grammaticals.

Eric, welcome to the group.Nice to have your experience added to BP.Look forward to talking with you in the future.

Tennessee requires a 5 days grace period before adding a late fee.

It's in the for sale section, added to the "Subdivision - Kingsland, GA. 96 lots - $100K for a buyer" ad.

Thanks Richard.Listen folks . . . by adding information to your profiles, people can find you better.

He has stated that his main objective is to assist me in eliminating my personal debt and get me into my own home w/in 5 years, sooner if possible, and that profits on his end are secondary to him (I know, amazing friend).