Sounds like I can safely write them off only after I purchase the rental and start the renovations to ultimately rent it out.

I'll definitely play it safe.

Only place I felt "safe" in CA was on base.

Most times you can be pretty safe estimating an hour for this, but if your property is in a rural area or a heavily congested urban area with slow-moving traffic, you may need to be realistic about it taking longer.BTW: you should be realistic about a Service Call fee even for little jobs.

Never fully trust anyone that isn't willing to share the negative aspects of all this.As I'm sure you've experienced, this can be a very rewarding path to take and depending on your grit and determination, overcoming all the pitfalls are well worth the effort.Cheers and drive safe!

The other method is to use a “safe harbor”, i.e., the specific procedures laid out by the SEC in Regulation D.  

That’s the best bet.

Nothing is a sure bet.

Most likely raising funds from passive investors would utilize a Reg D 506 b or c safe harbor exemption from registration.  

Their solution was for me to take over ownership of not one but five homes from Jeff's portfolio, all of which I had sold him and subsequently leased.Despite my being patently unfinanceable, the bank president placed a bet on me because I knew the homes, I knew the tenants, I knew what I was doing, and I was rabidly hungry.