We are in pre-development, and getting a clear picture of these initial soft costs has not been straightforward so I greatly appreciate the information.

I am the only real estate investor with my bookkeeper and at first she thought this was a little overboard but once she started setting rules in Quickbooks to simplify her work she quickly realized how simple this method makes things.

Be sure to read the rules located in the footer of every page. 

What Schedule can not do is contradict itself and it will always be over-ruled or governed by the LTB.

The activity is essentially no longer subject to the passive activity rules, so even if your modified AGI exceeds $150,000, you can take the suspended losses in year of sale.

Those will convey the idea you are trying to show.I wouldn't rule out the family pics.

A good agent will know the rules and regs for areas they want to sell/represent properties.My 2 cents,Mike

Columbus OH checks all these boxes and the rules here are super landlord-friendly!

Commercial lenders are not playing by the same set of rules as conventional lenders.   

Sounds like if you know and follow the rules you should not only be OK but pretty well insulated from competition (people swarming in and oversaturating)