There is another thread here on BP where the idea was float of one spouse 'taking a year sabbatical' from work to lower their taxable income down for a year where they can 'harvest' some of those accumulate losses. 

I honestly have no idea what happens to any losses as I haven't seen it talked about and as far as I'm aware you can't tax lost harvest within a IRA account.So, are you saying that you in the near term will stop your W2 income or significantly reduce your hours and be working full time in real estate? 

The pink styrofoam is required by the city.

The tax benefits of depreciation and deducting business expenses are also more significant than tax-loss harvesting, so it’s not so cut and dry.

Many people think that 401k's are exempt from the tax on borrowed monies, but I believe it is only for PURCHASE money-- not refinance money to harvest equity for further investing.  

If you "harvest" the equity on a regular basis, you have a setup similar to @Joe Villeneuve without any of your own cash in the property.

DONE.If you are tempted to own real estate for tax loss harvesting or for tax advantages only.........

YEt I can walk into the foresty department fill out a over the counter harvest permit and tun it in within 20 minutes and be free to log property in 3 days.. with NO over sight I can cut in logging roads were ever I want , landings were ever I want...

But the seeds you plant today can payoff in multiples at the time of the harvest.

Sitting up there in the tractor during planting and harvest season listening to music and steering between the crops.A couple of hundred acres under the plow, deer and pheasants dashing around your fields.Maybe grow peas, or corn, whatever.Have a personal garden for your families food, eat outside on the pic-nick table in the summer.USDA does farm loans.Another Non-W2 I have seen people do is owning a package delivery route and delivery truck.