It will be interesting to see if Trump does a complete turn around.In the last 24 hours the Chinese have made it clear how hard they will play. 

Hopefully this will clear things up:You are correct with your understanding that you can't write off any costs related to inventory (the house) - whether that be the cost of the house, or items to improve the inventory (like lumber, paint, contractors, other flipping expenses).However, if the cost does not relate to the purchase or improvement of inventory (the house), it can be written off as operating costs, as you noted.

This is a prime area for tear-downs and I see new construction in that area going for $1.5m and up, but not clear what price they are acquiring them for.I have a lead on a property there and would be interested in other people’s recent experience.Thanks

@Steven Denio Construction fencing may scare off buyers (nobody wants to live next to a construction site) even if you can't reuse the poles it just takes a few cuts with wire cutters to take down the main fence part at which point it can be rolled up and used elsewhere.

In Texas... it is much more clear. 

I need to report these funds and want to be able to provide the gentleman that does my taxes with a clear explanation as to how to do it, It would be a tremendous help if someone can provide me an answer. 

Do you have a loan on the property or are you earning the $1,950 ($650 each) a month and it's a free and clear property?

Hello Forum People - I have a clear understanding of how transnational funding works, but I have a few questions regarding other legal and real world hiccups that I would like some guidance with.

It seems pretty clear to the PM you were no longer there.5.

I told him about the REI meetings they have in our area where local RE investors support each other, give advice, network, etc. to basically say "tons of people are doing this," and his first conclusion was that it must be some "investing club" that's trying to steal my money and convince me to buy real estate from them so I take on the risk and they try to get in on the management side to take a cut.