I was just saying in my post above that it's important that your accountant does taxes...PLUS be an advisor (which is where accountants bring the most value).To answer your question:I am assuming you are talking about a fix & flip, rather than a buy/hold.This will not go on Schedule D because you aren't selling an investment with capital gains/losses - you are selling a piece of inventory so there are no capital gains.

Our goal from here is to fix up the newest property and then take out a commercial loan for an apartment building as our lender said we could use equity from our personal property and from the newest rental as a down payment on an apartment.

To them it's about closing a deal, later on to find out the foundation, or roof requires thousands of dollars to be fixed and their contractors are doing the repairs.

I am repairing the customers ceiling but at the last minute he wanted to fix the roof before the ceiling. 

We were considering even using private lender money to finance this deal as a fix and flip.

I'm looking to buy, fix, and sell my first investment property.

here are some numbers spent around 75k for 2 multi family(4 units) spent around 10k in rehabbing 3 units and are rented, i have the 4th one which needs rehab but iam out of funds and waiting for cashflow from the 3 rentals so i can fix the 4th unit.ThxSachin

If not what loan can I use to purchase, fix up and live in of 1-3 units multi-fam

Check out this series of articles:  Flipping and Rehabbing"Hard Money Lenders" are a typical source of funding for fix and flips. 

The basic premise is that the money supply should be fixed and no agency should be able to manipulate the money supply.