There are several different types of income in the US tax code.Two main types are “active income” and “passive income".Active income is money you earn from working, such as wages from a W-2 job or income from running a business.Passive income is money you earn from investments like real estate, stocks, or rental income from your RE portfolio where you earn $ without actively working.Normally, you can't use passive losses (like losses from real estate investments) to offset active income like your salary from a W-2 job.That is unless you are an RE Pro.The reality is, that Real Estate Pro status is just a filing status similar to filing married or jointly.And if you are a real estate professional you CAN use passive real estate losses to offset active income from other sources.To qualify as an RE Pro you must:1.

Visit with people there and you'll get a more detailed look at things from people actively working in the areas.

Often people overthink this.

New to the Dallas area and look for a rhea group to connect with? 

And the split is whatever you decide on. 50/50 is what a lot of people usually do.

There are likely active real estate investing groups for Tacoma and the surrounding area.

I don't think its as easy as people make it out to be. 

But many people need to consider if they are financially ready for it or not.

Material participation in the rental activities still required. 

Lots of people love the La Fortuna area.