@Steve Yang..Did you find what you were looking for yet?  

My partner (okay, i'm bias b/c he's my husband) knows all the constructions, building, woodworking, the fixing up logistical stuff, and I'm the finance  and design.. you will be 100x happier and more successful if you find a partner that's a ying/yang... a partner and a mentor to match your strategy!  

@Joe Richardson as others have said if your MAGI is above $150k, you can't take the passive losses and they instead carry forward.The difference between a real estate CPA and a non-real estate CPA is that the one whom knows what they are doing will begin to lay the ground work for you to tap into your suspended passive losses.

I saw this last time too where all these flips shows came out, seminars from educators were rampant, news stories were once again touting real estate as in vogue and a juggernaut that can't be stopped.I know agents right now buying cars,big houses, trips out the yang thinking (this is awesome).I am trying to make smart investments today and hold a certain liquidity position to take advantage of discounted assets in the future.There is talk that Trump's plan for reducing corporate taxes and road improvements might extend the cycle out 2 to 3 more years but nobody knows for sure.

It's a pretty broad question not knowing your friend @Freddy Yang.

If you can, get you MAGI (mod adj gross income) under 150k.  

If your income (MAGI - Modified Gross Adjusted Income) exceeds $100K ($50k if single), the deduction is reduced.

Quote from @Steven Yang: I think Theresa read the law wrong.

Yes @Sean Maginess if you are getting a business credit card, you want to use it solely for business.

&@Shanahan Yang I appreciate the bluntness,  we are on the same page and Its good to know that im not crazy 😜 Redgy