Assuming you are both working and the rentals are long-term, rental losses up to $25,000 can offset W-2 income if your MAGI is under $150,000, with excess losses carried forward.This post does not create a CPA-Client relationship.

Reporting begins when it's placed in service, not when it’s first rented.This post does not create a CPA-Client relationship.

I'm looking at Duluth MN because of a video posted on BP, but I recognize this is an opportunity most would dream of, because it's one I've often dreamed ofWell now it's in my lap, and the pressure is on.Hit me with your scenarios, what would you buy?

Hi Michael,Thanks for responding to my post.

Also, I am connected with a lot of sophisticated investors on Linkedin and I don't want to lose their respect because I am starting to post educational content when I have never done any transactions.What do you think?

Please keep those posts in the Classifieds forum.Need a spreadsheet or form?

It is correct that there is no limit, but some of the aggregators and securitizers who purchase these loans post-close have exposure limits, such as $10 million in unpaid principal balance.

I'm local to the area you checked into on the post.

This approach simplifies the sale and avoids unnecessary legal or tax complications.If she want to share the proceeds and tax obligation in a technical way, she need to file a partnership return for this property.This post does not create a CPA-Client relationship.

Post your notices to protect yourself.6.