If you qualify, you can use passive losses, like those from depreciation, to offset your active income.

Because of the balance sheet is off you can certainly bet that something is wrong with the profit loss statement. 

Quote from @Christine Gordon: Quote from @Roi Azoulay: This firm is known to advertise fake distressed properties all over NY and reach out the the actual owner w/attempt to get listing agreement, Unfortunately they are still active and keep doing this for many years and no other website/mls does anything about it. 

I am Jon and moved to the Jersey City/Hoboken area two years ago. actively looking for investment opportunity now.

I am betting for the appreciation of the house in the next years because I don't think I can cash flow in the first years.  

Condos are a better bet since they usually give you more freedom to rent and are easier to sell.

Some use very specific goal setting metrics, some use more general goals, there is no right answer for every person, but I am willing to bet that those that set some goals will be more successful in the upcoming year than those that do not. 

I can’t lie, I felt a little jittery stepping in, kind of like I was about to bet on a horse race without knowing which jockey had the best track record.

I suspect without money and active participation as LP, you cannot legally do what you suggest.Have you seen the underwriting?  

I used Stacey Lancaster (she's pretty active on Bigger Pockets) and she was fantastic. 10/10 would recommend to a friend.