I am 16 years old and I am just starting my wholesale journey, can you please help me and answer my question that I posted on my page?

I hope to be able to contribute to other peoples’ journeys as well in these crazy times.

Best of luck with your journey! 

In your scenario, claiming that $117k depreciation deduction could lower your taxable income from $700k to $583k, which is a huge benefit in the short term.As for the RE pro status, if one of you becomes a full-time real estate professional, you can potentially offset active income (like W2) with passive losses from real estate. 

Congratulations on starting your real estate journey! 

During my REI investing journey I've done 7 1031’s, then followed each of these up with cost segregation studies.

It is something only you have access to unless your subscription is automatically canceled due to a payment issue.We also have never increased prices for our existing subscribers as long as their subscription is active.

Padsplit may also be an option if you want to be a little less active in managing. 

I'm someone who does well with coaching and direction so trying to piece things together on my own has kept my investing journey in a hold pattern of learning.  

Is there a way to reduce the amount of hours so you have more time for other activities?