.- Jasper / Pat AboukhaledTurning investment visions into reality in Phoenix, AZ - Ranked #1 for residential real estate growth and opportunity by PwC

I could not imagine deals having losses like that and the devastation to the investors and their families.

Any office that doesn't have this information goes for cost of equipment, which is basically probably a loss to the owner.

Covers the building, $1M/$2M commercial general liability and loss of income.It does not have some of the bells and whistles that an STR specialty policy like Proper has, like coverage for liquor and off-premise liability. 

- Jasper / Pat AboukhaledTurning investment visions into reality in Phoenix, AZ - Ranked #1 for residential real estate growth and opportunity by PwC

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.

- Jasper / Pat AboukhaledTurning investment visions into reality in Phoenix, AZ - Ranked #1 for residential real estate growth and opportunity by PwC

So that first year may be a 2 to 3k loss or break even unless he gets lucky. 

Also loss history can play a significant role. 

While no properties actually flooded, the entire area was a disaster - roads destroyed, rescues, loss of power, and loss of safe drinking water than lasted for two weeks.