But we have a smaller one (1100 sq ft) in a lesser subdivision and not gatlinburg  that is getting tons of activity since we put it up for sale and it isn't complete. 

I travel to the RRG often for outdoor activities I enjoy.

There is no sewer easement or anything recorded that my active line is there. 

I honestly wouldn't even trust anything QB is telling you when it comes to taxes.You're in a partnership, which acts like a conduit to pass through the income/loss of the activity to the individual owners.

For those managing active income streams—like wholesaling, flipping, or even running a real estate business—filing as an S-Corp can significantly reduce self-employment taxes.

I'm an active-duty military (retiring soon).

You materially participated in the activity for any 5 of the last 10 tax years.6.

Don't try to build a buyer's list with no experience and no active under contract.

Since Joe is not a registered lender, Joe is not held to the same standards as a lender and the sale could be a wreckless and poor activity by the bank putting Bob in that situation.

Here’s why and what alternatives might exist:Real Estate Syndication or Fund: Invest in funds that generate passive rental income, which can offset Schedule E losses.Real Estate Professional (REPS): Qualify for REPS to reclassify rental losses as non-passive, allowing them to offset active income.This post does not create a CPA-Client relationship.