If the LLC you own shows a loss (beyond depreciation), and you are an owner of that LLC, this would carry into your personal tax returns on Schedule E, page 2 from your K1.

I host a virtual investor meeting every wednesday at 7pm EST, DM me and i can send the details your way.

The biggest mistake I see out of state investors make is relying on others too much for direction and guidance instead of doing their own due diligence and building their own team that they actually meet and interviewRelying on one person who alleges that they have a 'team' built already that you can use as well can be a costly mistake.

thank you i hope to meet tons of people here!

@Victor Yang To use the rental losses to offset any active income (W2), you'd have meet Real Estate Professional status (which would be difficult to do with a W2 job because you'd have to work more on real estate than any other job to qualify) OR have an AGI of $150K or less.

I do a meetup in Gilbert, it is a great way to meet and network with other investors and RE professionals.

There are a ton that solely focus on those specific markets. ( they do meet-ups, etc. )WOW, AI?

I will follow up.. something like this if they did a take down schedule and allowed us to build it out over a few years might be interesting for us.

Now, I’m ready and eager to meet new people and make the most of this incredible community.A little about me: I’m originally from Tulsa, OK, but relocated to Austin, TX, four years ago.

Personally I think there are good loans out there but people look for the "perfect" loan that fits their buy box and meets a desired return - which the return is going to be based on risk.So for many you cannot have your cake and eat it too. thoughts?