A lot of my clients keep the bedroom carpet until it is destroyed and then re-do it with wood/lvp/tile etc.

Hello, My RE Partner and I have been running our STR in Kingston NY for just about 1 year now.

I have no idea on how any of that works, but if he is serious about getting into RE and if that's what he wants to do....then do it. 1500/month is about minimum wage, I don't see that much risk in taking the leap into wholesaling if that is what he stands to "lose" 

For RE owners, death allows you to pass assets to your heirs and step up in basis, effectively eliminating recapture.

Easiest way for most ppl to continue to do deals if wholesaling becomes illegal in your state is get your RE License.

Better off investing in Indian RE till your visa issues are sorted out.

You have a very different situation now.If you don't have cash to invest in real estate, then RE is not the right place for you right now.

Why are you re-installing mechanicals on vacant properties - after they've been stolen?

Real estate, by default, is passive and the primary way to avoid the passive loss rules is to qualify as a real estate professional.Full-time employees and non-real estate business owners cannot qualify as a real estate professional (aka REPS status) because one of the tests is to spend more time in real estate than anything else (and it’s unlikely that you can convince the IRS or Tax Court that you spent more time in RE than your day job).

Ha!