Hiring a sub-contractor which you have every intention of giving a 1099 to if they exceed the $600 threshold established by the IRS...I'd do that even if I didn't have workers comp.Disclaimer: Yea yea..

When forming your business credit profile, it is important to register with SAM and notify the IRS of your sole proprietor experience.  

As long as you can clearly show the IRS, if needed, that the heloc funds went towards the purchase of an income producing property, you will be fine.  

It seems that the information in the article disagrees with the IRS Pub on Medical Expense deductions. 

They do this to try and prevent lender hopping to close on the property.

I guess my thinking is that the number is not arbitrary since the Gumit (aka IRS) used the 260k amount to tax the sale for transfer taxes etc.

It seems the IRS itself isn’t even always sure of what constitutes a prohibited transaction until they decide something is.

Understood, I agree certain tasks are definitely best kept for those that are well qualified, especially considering the liability in messing up with the IRS, but as I understand it, some of the VAs are quite skilled, considering they do lots of real estate work.For what it's worth, I did come across a piece of software that proports to actually interpret the receipt data for you...if I find the program again I'll post back.

@Tiffany Swann an EIN from the IRS also is needed , well that's what I believe . 

This year I will owe significant money to the irs because of a few successful flips.What is your opinion on the ethicality of filing an extension to delay payment.