If you look at the tax assessment, there will be an assessed value and the taxable value. 

So typically passive activity losses are grouped together and carried forward to offset other passive activity losses if your income is over 150k.

Do you have a nice amount saved up for the activities you enjoy(I assume yes given a 30+ year in Tech plus you mentioning making lots of money already in real estate).If that is the case, what are you looking to achieve now within real estate?

Get detailed quotes on these to ensure it’s cost-effective.Zoning & Permits: Verify that your current property allows additional homes and meets zoning requirements for multiple units.Rental Demand & ROI: Assess demand for singlewide rentals in your area to confirm it’ll be profitable after all expenses.If everything checks out, these could be solid additions to your portfolio.

I am a big advocate of home ownership, but in the situation you are describing (not knowing how soon you would leave), it might not make the most sense to buy a condo with restrictions or potential assessments in the future.

Networking with Local REI Groups: OKC has some active real estate investor groups where people often share leads and offer partnerships.

So, we obtain a full credit report and review collections, chargeoffs, age of credit accounts, active accounts, etc. to build an overall credit evaluation.Public RecordsWe also obtain data from national databases about evictions, convictions and sex-offender histories.

I’m also exploring opportunities in Dayton and Northern Kentucky, so if anyone is active in those regions, I’d really appreciate your insights as well.A bit about me: I’m an attorney by trade but also work in the real estate market.

If you are going to be active, and have high conviction in a project with a clearly defined entry/exit strategy then using a HELOC is one of the better sources of capital.But, I continue to have my stance that, on average, folks who use a HELOC to fund the down payment for long-term investments will eventually find themselves in a situation where their portfolios drain their personal financial situations, rather than fueling them. 

While my insurance charges are relatively low each year given this is a condo, I learned to better assess who is behind budget planning at the HOA level for all of the units for roof, cleaning costs, basement improvements (shared by all units), given this was run well by one individual.