Should I ask them to cancel so it doesn’t affect my host status?

The protected classes I was referring to are familial status, marital status and age.

Protected class means gender, race, familial status, color, religion, national origin, or disability. 

Warranty deeds are paramount... quit claim deeds are good for clearing title issues and/or if you are unsure of the status of a grantor's title.

Honestly, we should have been easy clients - we came to him with a plan in place wanting his help on claiming REP status, setting up a cost segregation for a rental property bought and functioning in 2022, so that we could file for 100% bonus depreciation for that tax year.

Type of existing loan: VAProperty status: pre-foreclosureValue: $320,000Purch price: $272,000* Buyer to pay seller arrears of $60,000+ $4,000 closing costs + $14,000 wholesaling fee.

Honestly, we should have been easy clients - we came to him with a plan in place wanting his help on claiming REP status, setting up a cost segregation for a rental property bought and functioning in 2022, so that we could file for 100% bonus depreciation for that tax year.

A noteworthy tax loophole, particularly beneficial for those yet to attain Real Estate Professional Status, offers a strategic approach to potentially offsetting OR EVEN ELIMINATING the impact of high job-related taxes.At its core, this tax loophole revolves around discerning between passive and non-passive activities within the realm of rentals.

If you are able to generate losses, the losses would offset your W-2 income.Real Estate professional status will allow the rental income(if positive) not to be subject to Net Investment Income Tax(NIIT) which is 3.8%

Reason being I have almost stopped any loan that I can not access the lender's portal as a Third Party Originator (TPO) as passing it off to a company as a pure broker sort of sucks for someone like myself (retired army ) who is used to status updates by our team.