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.

Their most common threat is a security deposit dispute.

Pro tip--make sure your exhaust fan in the bathroom is vented to the atmosphere--meaning out to the outside.....go out the roof or out the side of the unit or secured to an opening in a soffit vent grille off the house. 

I’d recommend running cash flow scenarios on any potential deal to ensure it aligns with your financial goals.If you’d like help analyzing properties or securing financing, let me know I’d be happy to assist.Best,Drago

Itll be paid off by the time your 65-70 and boom, no need for social security or retirement. 

As Sean Wagner mentioned, the city of Chicago has adopted their own regulations on charging what's commonly referred to as a "security deposit" you need to do it another way. 

I’m a licensed agent in multiple states (my Arizona license number’s on file if you need it), and while I’m not your attorney or accountant, I’ve seen more real deals than I can count.

To apply cost segregation to your 2024 taxes, you need to do it at any time before you file your taxes, not before the New Year's champagne toast.

@Meena MallikFrom my experience, securing financing for commercial real estate involves understanding your options, such as conventional loans, commercial loans, private lenders, or partnerships.

Income tax refund (forced savings account where govt keeps your interest) gives them the cash they need for first month's rent + security deposit.10) Realities of S8: most tenants no longer have 100% of rent paid by the program.- Good luck getting them to pay their portion for the duration of their lease- Be careful including utilities in the rent as they then won't care about a running toilet resulting in a $500 water bill.- S8 tenants don['t want to pay application fees- S8 tenants cry broke about paying security deposits- S8 tenants in the program for 10+ years claim ignoreance on filling out their paperwork because they've learned a desperate landlord will do it for them.If you want a S8 tenant, you MUST advertise on www.AffordableHousing.com