If you're considering such investments in areas like Omaha, Austin, San Antonio, Chicago, or Phoenix, I'd be happy to leverage my experience and network to assist you further.Best of luck with your investing journey!

I honestly wouldn't even trust anything QB is telling you when it comes to taxes.You're in a partnership, which acts like a conduit to pass through the income/loss of the activity to the individual owners.

For those managing active income streams—like wholesaling, flipping, or even running a real estate business—filing as an S-Corp can significantly reduce self-employment taxes.

You materially participated in the activity for any 5 of the last 10 tax years.6.

Don't try to build a buyer's list with no experience and no active under contract.

I'm an active-duty military (retiring soon).

Welcome to BiggerPockets and congrats on starting your real estate investing journey!

Good luck on your journey!

Here’s why and what alternatives might exist:Real Estate Syndication or Fund: Invest in funds that generate passive rental income, which can offset Schedule E losses.Real Estate Professional (REPS): Qualify for REPS to reclassify rental losses as non-passive, allowing them to offset active income.This post does not create a CPA-Client relationship.

Good luck on your journey!