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In this exercise, we will be using an out settlement statement specifically for property flippers, emphasizing that the property will not be rented or generate income. The focus is on treating most of the purchase as part of the asset. The exercise uses the borrower side of the settlement statement to demonstrate how to input the information into QuickBooks. Notably, there is a $10,000 deposit made prior to closing, assumed to occur on June 17, 2018. This example sets the stage for a similar exercise that will explore the selling side of the transaction.