I do by the room and house hack, and for now I self-clean (takes me 10 minutes) and make way better profit than if it were a whole house rental. 

I jumped into real estate doing the BRRRR method, understanding that holding property will allow me to build generational wealth, but then learning that landlord income is not the best way to feed your family.

Wholesaling can be profitable but it sure has a steeper learning curve and requires a strong network of buyers which takes time to build.

Could someone explain that to me or if there’s anyway to deduct those expenses.Hey Troy,  When a property is not “in service,” it means it is not yet available for rent or generating income.

The answer is to value this as any other business generating income, not just stick within the confined box of valuing the real estate only.  

Misled by gurus on YouTube hyping how people JUST LIKE THEM with no capital, experience or real estate education, can join his mentorship and make these incredibly profitable deals.  

Is that process too complicated, yes, but there is nothing in this decision that will prevent a tax sale purchaser in MD from reselling at a profit after obtaining the property by foreclosing the right of redemption.

>>For purposes of taxes, consult with a CPA to confirm this would work for your situation, but you could have the LLC be treated as a "disregarded entity" and thus, even if you and your wife are members, any profits/losses would "disregard" the LLC and go directly on your personal returns. 

As I studied earlier, the first thing you should do is marketing, then get a call and do a property analysis to understand if it's profitable for you, then meet with the seller and sign all the necessary papers, then if there is a debt in the bank we do a reinstatement quote, then do a title search to check if there are any hidden debts, if everything is fine we look for an investor or flipper and sign an assignment of contract with him and wait for closing to get our money.

The goal is to rehab this house then rent it to a qualified tenant until my fathers passing, at that time he has it in the will that the property is to be sold and then the profits are to be divided up between the family.