Then you go find the appropriate professional.

Build a strong local team in each market, including real estate agents, property management professionals, contractors, and lenders.

W-2, 1099, etc.) with passive income/loss from rentals is to meet the IRS requirements for Real Estate Professional Status or REPS (this also requires material participation in addition to specific requirements to be considered a REPS).Once you have clarity on whether or not you can offset non-passive income with rental losses you can then explore cost seg to accelerate depreciation (and some of the accelerated depreciation from cost seg will impact year 1)...

@Austin TessTo buy your first multifamily property, follow these steps: get pre-approved for financing with an FHA Loan, identify a high rental demand market, choose between house hacking or pure rental strategy, analyze the property using the 1% rule, build a team, negotiate the purchase, and manage the property professionally.

My spouse is trying to meet real estate professional status with the goal of offsetting my W2 income tax. 

With six children, it seems that the others would probably have known and reported.With first-hand experience of an overzealous medical professional, I'd wait to see if the charges are valid.

Whenever making an investment decision, please consult with your tax attorney or financial professional.

If you choose this route, make sure to have clear, written agreements in place and maintain a professional landlord-tenant relationship.

Fortunately, we did not sustain any damage or flooding from the storm.It's great to connect with a design and architecture professional in Sarasota.

I am looking to connect with professionals in the area.