There will likely be a partnership return required where you flipped a house with a partner and lost $120,000.If you sold the other property within the same partnership, it will also be reported on that partnership return.The net result to you is that you will receive a K-1 showing your income / loss which you then use to report on your individual return.If you made no money within the same year, you likely pay no additional taxes / get no additional refund.Best of luck.

@Vinny Muli - I'm working on using a HELOC to pull money out of a few SFR I have in an LLC name.

You can buy a house that need lots of work that's another way, do as much work as possible be the project manager how ever you can help to save money .BIG pockets can jump in on a MLS ride it out .

It will be very interesting to see how this plays out for first time home buyers that don't have money to pay a commission to buyers agents.   

I have purchased the following books:ABCs of Buying Rental Property The ABCs of Property Management The ABCs of Real Estate Investing The Advanced Guide to Real Estate InvestingThe Book on Investing in Real Estate with No (and Low) Money DownWhat order do you recommend reading them in?

In 2019 my occupancy for the year was above ideal but i like money too much to turn away bookings.  

@Derek Heinz you might be better off finding a major fixer-upper, getting a hard money loan (HML) to acquire it. 

Would like to make at least 60k per build with intial list price at 399,9k that can fall to 360k and still make money after closing cost and realtor fees. 

From a leaky roof to a backyard jungle, it was a crash course in problem-solving and patience.I bought it for $145,000, powered through the chaos with a hard money loan, and sold it for $180,000.

Had to spend additional money to get everything fixed.