Readers should seek professional advice.

There are several different types of income in the US tax code.Two main types are “active income” and “passive income".Active income is money you earn from working, such as wages from a W-2 job or income from running a business.Passive income is money you earn from investments like real estate, stocks, or rental income from your RE portfolio where you earn $ without actively working.Normally, you can't use passive losses (like losses from real estate investments) to offset active income like your salary from a W-2 job.That is unless you are an RE Pro.The reality is, that Real Estate Pro status is just a filing status similar to filing married or jointly.And if you are a real estate professional you CAN use passive real estate losses to offset active income from other sources.To qualify as an RE Pro you must:1.

I attended local meet-ups, joined real estate associations, and even reached out to experienced professionals in my area.

For seniors, living in an ADU on their children's property sure beats a $7K/mo assisted living center and still gives them independence.

Quote from @Emmanuel Rugamba: Hi everyone I am 26 year old professional athlete looking to buy his first home but also house hack in the process.

It’s great to see your enthusiasm, and you’re in the right place—this community is full of knowledgeable and supportive investors, professionals, and entrepreneurs.

This second property is in a MUCH improved neighborhood, which draws in a better class of tenant, it's professionally managed by a trusted company, and it's structurally sound with recent major improvements.WHAT'S NEXT??

Readers should seek professional advice.

It has to do with the professional way you've handled yourself, the good communication with our team and the fact that you are closing your first house with us.  

Title work Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?