Posted by Jimmy on July 24, 2007 at 06:37:21:
the income you have earned doing rehabs is business income. you can deduct your materials, and any expenses you incurred in doing the work. This does not mean you can deduct personal expenses.
the property mangemeent fees is also business income. same deal for expenses.
how much of you auto expenses are deductible depends on your car usage. plenty of info at IRS website on this.