My client is going to file charges against metro flippers in all regions they operate they are fraudulent and never close any loans they send out fake settlement statements and imposter a company that lends their numbers are spam numbers

It contains hundreds of files such as ebooks, checklists and spreadsheets for real estate investors: https://www.biggerpockets.com/filesGood luck.

There are several different types of income in the US tax code.Two main types are “active income” and “passive income".Active income is money you earn from working, such as wages from a W-2 job or income from running a business.Passive income is money you earn from investments like real estate, stocks, or rental income from your RE portfolio where you earn $ without actively working.Normally, you can't use passive losses (like losses from real estate investments) to offset active income like your salary from a W-2 job.That is unless you are an RE Pro.The reality is, that Real Estate Pro status is just a filing status similar to filing married or jointly.And if you are a real estate professional you CAN use passive real estate losses to offset active income from other sources.To qualify as an RE Pro you must:1.

@Daria B.The maximum allowable non-judicial foreclosure fee for Fannie Mae in Alabama is $1,900, as of January 1, 2023.Again does not include filing costs etc but assume $3,000We have foreclosed multiple times in Alabama - it’s an easy state to foreclose in.

Not only for the reasons you mention (easily manipulated, depending on format), but also have next to nothing to do with what your operations will look like.While I do agree that you should try to verify income, both through lease review, P&L, and if they will share: bank statements and tax filings, at the end of the day, I don't put a ton of value in seller financials, for many reasons.  

Even if the tenants agree, anyone of them can file an action against you.

I filed a protest on my own and got it reduced a bit....

It contains hundreds of files such as ebooks, checklists and spreadsheets for real estate investors: https://www.biggerpockets.com/filesGood luck.

Yes, you can file jointly if you or your spouse qualify as a Real Estate Professional (RE Pro) and share the benefits.To qualify as an RE Pro you must:1.

This would allow you to exclude up to $500,000 in capital gains as a married couple filing jointly, or $250,000 if filing individually.Since your brother-in-law owns 10%, that portion of the sale might not qualify for the exclusion, and you'd need to discuss the tax impact with him.This post does not create a CPA-Client relationship.