Real estate investing is not passive, even with a property manager.

There will likely be a partnership return required where you flipped a house with a partner and lost $120,000.If you sold the other property within the same partnership, it will also be reported on that partnership return.The net result to you is that you will receive a K-1 showing your income / loss which you then use to report on your individual return.If you made no money within the same year, you likely pay no additional taxes / get no additional refund.Best of luck.

Since the last time I was online, I have grown the investing to fix and flipping and a portfolio of 4 properties that are producing passive income.  

If you have high W2 income, the amount your STR makes (or loses) will be peanuts compared to the tax savings.

Turn key rentals seem to be a good way to go, but I'm also trying to learn about other more passive strategies.  

If I read the story correctly, your client did not report rental income.

They’re a great way to generate passive income with minimal hands-on involvement.Looking forward to hearing more about your goals!

Take time to learn through military-focused resources like Military House Hacking or Active Duty Passive Income, and connect with other military investors online or on base.

3) Average income was up 4.5% in 2024.

Our cash on cash return is essentially infinite as we make money on the delta between the yield of the discounted note that we purchase and the interest rate we pay to our passive private capital partners.