Keep in mind I learned quite a bit and still learning.

Yes, any losses can be carried forward until the time when you can take them...or you sell and those losses can then be used to offset your gains.One thing I would keep in mind, is that lenders may not like to see that loss on schedule E.

I ask this not as a request from BP, I have someone in mind. I

The Big question in my mind is will this be another big "R" as in Recession or a Big "D" Essentially by becoming liquid, renting for a while, being patient and buying on the Market DIP you are able to again RIDE the wave up when the market rebounds which it will in the SF Bay area again in the next UP cycle. 

@Mindy Jensen I'm getting my real estate license to work as an agent full time...maybe part time at first.

@Mindy JensenI currently have a realtor sending me updates daily, along with checking all the retail sites (Loop Net, Redfin etc) I prefer to stay close to home as I like to self manage (4 plex in AZ have had for 4 years and still not comfortable with repair cost etc, on 2nd management co and its better, but everything else is here within 15 min of my home) any ideas of better searches?

Arnie, it sounds like your mind is made up and you want out.

@Mindy JensenI've tried a few times to refresh my browser and tried a different pc.

I guess one thing that comes to mind is that a "seller" doesn't necessarily need to be the "owner" right?

Thanks Mindy.