@Akil MitchellFrom my experience, when buying a property, it's crucial to assess local building codes, potential de-conversion costs, and permit requirements.

The gist of it is that when you dispose of your entire interest in a passive activity in a fully taxable (as opposed to a tax-deferred) transaction to a non-related party, i.e., selling a non-grouped rental property in a taxable sale to a non-related party, both current and suspended passive activity losses generated by that activity can be deducted. 

@Mort McGuire Yes (JKP) we are also active.

If you qualify, you can use passive losses, like those from depreciation, to offset your active income.

Quote from @Christine Gordon: Quote from @Roi Azoulay: This firm is known to advertise fake distressed properties all over NY and reach out the the actual owner w/attempt to get listing agreement, Unfortunately they are still active and keep doing this for many years and no other website/mls does anything about it. 

For those of you actively working on fix-and-flip projects, particularly in dynamic markets like Houston, I’m curious about your approach to navigating today’s challenges.

I'm pretty active on here and IG (@HouseHackandHustle).

I might get some activities out of time sequence. 

@Jonathan Klemm is also a good local resource who is active on here.

I am Jon and moved to the Jersey City/Hoboken area two years ago. actively looking for investment opportunity now.