Partnerships are gold too; I’ve seen deals where one person brings the money, the other handles the work, and they split the profits.Company hacking is a bit more advanced—getting added to an LLC that owns the property, improving it, then refinancing to pay the seller out—but it can be powerful if you and the seller trust each other.

To simplify: Since my wife is a REP only for 2024, is the rental loss I can deduct from my W-2 limited to 2024 losses, or can I also deduct the passive losses carried forward from 2023?

But...you'll find gold.

You can always carry it forward and use it in a future year when you actually need it to offset taxable income.

It seems every market goes through a cycle -- unnoticed potential; early titillation as the potential becomes known; flood gates open and gold rush is on; property prices rise, revenues drop, regulations come in; and finally balance is found.

I was wondering what the best way to structure a deal with seller carry is?

I wish I could make it work with sub 100k properties, but that's usually fools gold (especially in 2023) and just not where you find long term success.

I am in the Tampa Florida market and they make a killing here and are worth their weight in gold to the owners of the community.  

Baseball bats and bricks thrown.And then when you go to the bad neighborhoods, it's even worse.All of you doing SubTo for the first time, carry with you your next of kin information. ;-) 

Mod Building if done right cuts your carrying cost and your installation time making it more affordable.