@John Zhang If your wife qualifies for Real Estate Professional Status (REPS) and materially participates in managing rental properties, there is no limit on the amount of rental losses, including depreciation, that can offset your W-2 income.

Readers should seek professional advice.

Target travel nurses, contractors, and relocating professionals via platforms like Furnished Finder (ideal for medical staff) and Airbnb (set 28+ day stays).

Keep going, keep asking questions, and keep stacking knowledge—because the more you know, the faster you grow.Disclaimer: I am a licensed real estate broker associate in Florida, but I am not a CPA, tax professional, or financial advisor.

But I was going to put the money in the bank anyway as I didn’t need it.)They are paying for professional loan servicing And most importantly.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Label it appropriately, add in all the rents by unit, split out all the expenses, swap the BP logo with your own, then PDF it and it comes across very professional.

Readers should seek professional advice.

Also, agree on how the property will be used, who can live there, and under what conditions.Financial Shortfalls: Address what happens if someone can’t meet their obligations.Legal/Professional Fees: Decide how legal and other professional fees related to the purchase and management of the property will be shared.Taxes: Determine how tax benefits will be divided.SummaryMelissa, the time you spend creating a thorough agreement now will save you headaches—and possibly your friendship—later.

Cities like Irvine (corporate travelers), Anaheim (tourism & business), and Costa Mesa (young professionals) offer strong rental demand, but zoning and HOA restrictions vary.