I buy a property and immediately sell it with a double close. 

Lets say I buy it for 40,000 and sell it for 50,000 the same day. 
I wire the 40,000 to the title company and later the same day I receive 50,000. 
For real estate I hold for a longer time I normally create a Fixed Asset account, but in the case I own the asset for less than a day.