I had a recommendation for this program after a bad experience we had flipping our last three properties.

The ownership could be changed prior to structuring the parking arrangement, but last-minute changes without time to season the ownership change would significantly increase the risk the transaction could be disallowed as a step transaction under audit.

Lastly, always keep your job and build your employment foundation because that keeps you income relevant and lendable.Hey thanks for your reply!

Through the years he enjoyed positive cash flow with the last ten years cash flowing at about $17,500 annually.  

For a little background - I have been taking a big loss on this property for the last year for reasons out of the control of my property managers.What would you do in this situation?

We have spent the last several years reading (rich dad poor dad, total money makeover, etc.), listening to bigger pockets and other podcasts, and learning about real estate.

Lastly, what’s been the biggest surprise about being a landlord so far?

For example, I bought a duplex in a B neighborhood called Reynoldsburg for $350,000 last year.

I have opened two more LLC's with them since I last posted here.

Consider the "2 of the last 5 year rule" to avoid capital gains.