Quote from @Keith Angell: Hello everyone,I’m looking for some advice as I plan the next steps in my real estate investments.

This was my second foray into real estate investing, the previous one being through a “full service” turnkey provider.

The real skill is understanding the variability and risk in each number which is not always numerical or scientific.

Starting with an owner-occupied duplex is a great way to get into real estate investing while keeping things manageable.

Why ask: A mentor who is actively involved in the market is more likely to offer relevant, real-time insights, strategies, and lessons learned.

I am new to BP and real estate.

Hey @Preet Oberoi, so a tiny home like you are describing isn't real estate but more of an RV.I would get with a CPA like others have said to get the skinny on the deductions.

I’ve been working with real estate investors for many years, and I’d love to hear more about your goals.

You must work at least 750 hours per year in a qualified RE business.So most people who have high-earning W-2 jobs outside of real estate won't qualify.But the unique thing about RE pro status is that even if you don’t qualify but your spouse does, you can both file jointly and claim the losses from your RE investments to offset your other active income together.It's an incredibly powerful benefit if you do meet the criteria.

Hello Doug, I am not a real estate attorney nor is this legal advice.Unless someone's state has specific laws banning contract assignments you should be fine doing the following.