In general, rental related real estate, is considered a passive activity.That means, that passive losses, are not eligible to offset income such as wages, interest, dividends,etc.However, I would still argue that real estate is great from a tax perseptive, making $270,000 you are likely in the 30%+ tax bracket when you factor in Federal and state taxes.Rental income, which is normally shielded by depreciation, will not be subject to the 30% tax as would interest and dividends.Best of luck.

But, there are some things you can do:  First, review your associations Covenants or governing documents. 

When we're getting into the weeds here, @Keith Consiglio, the real question we're untimely asking is "If a state or federal auditor looked at what I did, would this cause any headaches for me?"

Flood Insurance is a Federal Program.

Federal guidelines do not allow loans like this to be refinanced sooner than 90 days I'm told.

This experience underscores the importance of thorough due diligence when buying condos.Additionally, it's crucial to be aware of state laws governing condo ownership.

Why do you think the federal government regulates and investigates businesses like this?

Hello Bigger Pockets, My team and I are looking for a tip to point us into the right direction of how to convert our current tenant from regular rent she pays to a Sect. 8 Voucher (where rents in that zip code are much higher), she will have a percentage of the monthly rent paid for her by the government.

This is good - let the market work without government intervention, and without the NAR withholding every detail about a house and essentially lobbying to maintain 90% of this career field

Additionally, American Express provides credit lines tailored to real estate investors' needs AMEX Blueprint Business.Chase Ink and Navy Federal also offer excellent credit card options for real estate professionals, with the potential for high credit limits up to $100,000.