He wants to pay off the price for the home and only receive the additional 10K he put into it.

I appreciate the additional info and for pointing me in the right direction.

I don't want to involve the parish continually as they tend to cause additional headaches.

He wants to pay off the price for the home and only receive the additional 10K he put into it.

Hopefully, you won’t have any flooding issues.BTW, builders risk which most of buy for flips doesn’t cover hurricanes or flooding anyway, unless you add it.

It's not turning a profit yet, but in the meantime here's a bunch of business, travel and equipment expenses we would like to write off")2) Did I completely drop the ball not putting this thing in a self-directed IRA?

If they are a resent addition then you should have a good case in court.

I would deduct from the security, ask him to pay for additional damages AND throw everything out that he left after leaving the keys in the mailbox.

He bought the place several years ago for $500K and has an additional $150k HELOC on it that may or may not have a balance. 

My broker has provided additional training coming on board, as well as providing me with a mentor.