@Victor Yang To use the rental losses to offset any active income (W2), you'd have meet Real Estate Professional status (which would be difficult to do with a W2 job because you'd have to work more on real estate than any other job to qualify) OR have an AGI of $150K or less.

In my opinion it would be cleaner to split partnership based on monetary contribution and then remunerate each active party for their work if the active work is more on one partner than the other.

Keep in mind the start is slow, you won't see these great strides at the beginning.

Just keep in mind that entertainment expenses—like taking clients out for a show or a game—aren’t deductible anymore.And, yes, you can deduct 100% of your education expenses if you’re already a real estate investor.

I’m here to learn as much as I can from this community, connect with like-minded people, and gain insights into smart investing strategies.Looking forward to networking and soaking up knowledge from all of you.

5k a I don’t mind if it takes a few years, and I’m willing to be as actively involved as needed to achieve my goals.

You must work at least 750 hours per year in a qualified RE business.So most people who have high-earning W-2 jobs outside of real estate won't qualify.But the unique thing about RE pro status is that even if you don’t qualify but your spouse does, you can both file jointly and claim the losses from your RE investments to offset your other active income together.It's an incredibly powerful benefit if you do meet the criteria.

I am also active with Flips and own a few 4 plexes...Im a licensed NM Realtor would be happy to help set up a few searches, look at properties (Virtually as well), and tell you more about specific areas of town with the pro's and con's of each. 

There was even one exceptionally kind Bigger Pockets member that seemed to know a lot about health and physical activity that we even chatted on the phone afterwards and he gave me some good pointers.  

Hey guys, Just checking in if anyone still active here.