First off, if you have passive activity losses carryovers (unused losses from previous years) those losses wil be recognized to the extent of your passive income (gain) from the sale.

Networking is key, and places like Facebook groups, BiggerPockets, and REI meetups are perfect for finding active cash buyers.

So typically passive activity losses are grouped together and carried forward to offset other passive activity losses if your income is over 150k.

Update: We ended up backing out of the commercial deal, way too many issues going on and shady practices that we were not comfortable engaging with.Now the question is what to do with the chunk of money left after we pay taxes.

Evolve is nationwide and offers limited service engagements, but has a real bad reputation. 

Ask agent to do final walk-thru video to send to you to confirm quality of work BEFORE final payment to contactor.8) List the property for sale.NOTE: we're heading into winter/holidays when all real estate activity slows.

I work way harder as an agent as I did in my 18 years in my past corporate jobs, but I love it way more and am 100% engaged in the work and my clients' successes.

Do you have a nice amount saved up for the activities you enjoy(I assume yes given a 30+ year in Tech plus you mentioning making lots of money already in real estate).If that is the case, what are you looking to achieve now within real estate?

Networking with Local REI Groups: OKC has some active real estate investor groups where people often share leads and offer partnerships.

I’m also exploring opportunities in Dayton and Northern Kentucky, so if anyone is active in those regions, I’d really appreciate your insights as well.A bit about me: I’m an attorney by trade but also work in the real estate market.