Cost segs unlock these savings, but the losses won't offset your ordinary income from your job unless you are an RE Pro.Here's how to think about RE Pro status to make the best case with your CPA and the IRS:RE Pro Status starts with the IRS definition of a Real Estate Professional (IRS Pub 925).It is not as simple as getting a real estate license or working for a firm that provides real estate services.Ask yourself these questions to see if you qualify:Q1: Are you in the right business?

Your credit cards should be used as a last resort. 

Consider a cash-out refinance or a small business loan to fund these repairs and secure the property long-term.

Will it match the statement amount up with the actual credit transaction for the bank account attached to Stessa?

Listen to podcasts like the BP Rookie Podcast because they interview all newer people to the business so almost everything will be relevant for you.

@Grace Hartman Most of the time sellers offer credits instead of fixing repairs.

well. lower tax's generally helps RE and business as a whole. will have to see if they come up with something specific like the cost seg rules that are redy to sunset.

2.For purchases made on a credit card, is it best to use separate cards, or are there good methods for tracking expenses by property?

Good luck. haha i would run away from anyone self-proclaiming as "financial expert" with the expectation to "meet the guru / mentor/coach / master of all business" in his/her personal residence lol I have not google him yet but I bet he is taking picture in front of luxury house and driving sports car ?

Rentals and wholesaling are two completely different business models.