@Victor Yang To use the rental losses to offset any active income (W2), you'd have meet Real Estate Professional status (which would be difficult to do with a W2 job because you'd have to work more on real estate than any other job to qualify) OR have an AGI of $150K or less.

In this case, you would draft an operating agreement that specifies each partner's role—your friend providing the cash and you handling the rehab and management—and that profits and ownership are split evenly.

Not a ton of young professionals except in government roles (Carson City's largest employment option), or if they want a slower pace but are still willing to commute to Reno. 

Many opt for other investing methods in their SDIRA like private lending, crypto, private equity...anything except collectibles and life insurance.Note that a Solo 401k is exempt from UBIT on leveraged real estate so if you have self employment activity and no full time employees save for you and your spouse you should consider the Solo K as an option. 

If you’re newer to real estate, role-play scenarios with a mentor or colleague.

@Vina Merrill,I don't have much intel on Knoxville, but I’m active as an investor, turnkey provider, and builder in Chattanooga.

Simplify the structure as much as possible, have clear roles and responsibilities that are not overlapping (meaning only one person is allowed to make certain decisions) and a clearly defined exit plan.

I currently own a 3-unit multifamily property, and I’m actively looking to expand my portfolio while building meaningful connections with like-minded investors in CT.I’m particularly interested in:Wholesalers: If you’ve got off-market deals, I’d love to hear from you.Creative Financing Opportunities: Subject-to deals and seller financing are right up my alley.Networking and Partnerships: I’m eager to collaborate with other investors who share a passion for creative deal-making and scaling our businesses together.Whether you’re an experienced investor, just starting out, or anywhere in between, let’s connect!

.: During our pre-scheduled quarterly inspections, most of our tenants just go about their usual activities—cooking, watching TV, working, etc.

You must work at least 750 hours per year in a qualified RE business.So most people who have high-earning W-2 jobs outside of real estate won't qualify.But the unique thing about RE pro status is that even if you don’t qualify but your spouse does, you can both file jointly and claim the losses from your RE investments to offset your other active income together.It's an incredibly powerful benefit if you do meet the criteria.