Why ask: Learning how your mentor handled failures or setbacks will help you gain perspective on the full spectrum of risks and challenges in the field.

The knowledge gained from the podcast helped me purchase my first three investment properties, and a piece of land.

My CPA has essentially called it a "tax asset" - where you end up w/ tens or hundreds of thousands of dollars in losses that have been passed forward so that at some point you can offset passive gains. 

By purchasing a multi-unit property, living in one unit, and renting out the others, you can cover your mortgage payments and start building equity while gaining rental income.

You reduced the amount of untaxed capital gains you’re carrying forward but you didn’t create an expense or a deduction today.

Some properties actually lose money each month but gain value through appreciation.

At most, you will pay down the debt, and inflation will eat up all gains. 

The total capital gains tax of $172,500 at 15% would be roughly $25,875.  

Are there any Depreciation recapture or capital gain Tax dispositions that need to be resolved with the exiting member?

You're gaining equity.