Since you mentioned your W-2 income is above the threshold, it’s likely that you don’t qualify for this status, so the losses would be suspended and carried forward to offset passive gains in the future.With REPS and 500 hours of material participation in your LTRs activity, you can release your losses from LP interest.

We carry a partial contract on my husbands property and it's worked nicely without the headache of renting.

never heard of it.. but then again I dont carry any credit ever so maybe thats the issue.. 

You would be entering an estimate for each item. 

I don't know if MTR is the right option here, but it would be worth looking into for your client's sake.I don't think waiting until spring makes sense for your client, I would look at the carrying costs and do a price reduction..  

Here in New England you just can’t assume a ski season of 2-3 months is going to offset 9 other months of carrying costs; you’re already starting in a hole.

They all carry their own risks and rewards.  

I'm not sure the premium vs the basic version (I only have premium) but for any property, I can itemize the purchase price, current value, tag the associated mortgage, my assumption on appreciation, its rental income, all of its expenses (including taxes, yearly mainteance, capex, insurance, HOA, property management, depreciation and other), its estimated sale timing/and fees. 

You are saying I should ask for the seller to carry 80% seller finance and then I make payments to him with 5% interest for a period of time until I pay it off correct?

They should keep detailed records, including photos of damaged property, repair estimates, and receipts for items like cars and appliances.