First off, if you have passive activity losses carryovers (unused losses from previous years) those losses wil be recognized to the extent of your passive income (gain) from the sale.

Meeting strangers at a vacant property is always a gamble also.  

Recognize this.I have not purchased to brrrr since December 2021 due to the 2nd item.  

Water heater 12 years to replacement (may need some service before replacement).Recognize many cap ex items are years away.  

She said to be able to use depreciation and write-off expenses, I would need to create a partnership LLC and have someone else be at least a 1% owner in the LLC.I've read a few books on real estate tax planning now, but recognize there is a lot that I don't know.

We identified this N Lofgren Rd property through our partner network, and upon evaluation, we recognized its potential.

If you consistently analyze properties, recognizing a good deal will be much easier when it shows up.

If you consistently analyze properties, recognizing a good deal will be much easier when it shows up.

Recognize the sponsor is at least as critical as the deal.  

The part about people not believing in you or thinking its a gamble definitely hits close to home for me..