@Cheyenne DavisNot sure about your area, but don't be surprised if the underwriter asks you to provide anything from a list of updates to actual invoices for products purchased for your flip, depending on the increased value from when you purchased. 

Jason, I get invoiced at the end of the month for all my ' marketing consultants' no need to get crazy with referral fees

Account ClosedYou are going to have $118,000 in basis in the property/land.Since this was done part of the sale of the house - the full amount($118,000) is calculated as part of the basis.However, an alternative way that may have been able to generate you more immediate write off would have been If you acquired the house for $111,000 and paid the roofer in invoices/installments of $2,500 or less.This method may have entitled you to a more immediate write off.

I use Excel pretty much exclusively but am getting the need for some supplemental software to keep track of Business Cards, Invoices, PM Reports, Receipts, etc...

It has amazing capabilities of sales process management, property management, Invoicing, Books and what not.

Lastely, if you put both the trust and you name on the policy, list the Trust first so it is the name that shows up on all invoices, certificates, etc. 

One of the primary reasons for the walk through is to make sure everything agreed upon in the inspection phase of the deal was done the way it was agreed upon.Even prior to the walk through the seller is supposed to provide the buyer with paid invoices from contractors that outline the work that was done to satisfy the inspection finding.

I recommend to scan invoices and receipts, and store them electronically. 

Currently, they track their expenses by keeping all their receipts and invoices in a physical book that they hand to our accountant at the end of the year (poor guy, lol). 

It's advisable to invoice promptly.