In the unfortunate event someone passes away and the property transfers via probate or a will, that fair market price gets "stepped up" so no taxes are paid.I would check with a CPA, but this is my understanding.

i understand that's very general and each is a case by case basis; we've viewed a couple of them.

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.DM us if you’d like to discuss this logical approach in greater detail!

Look into local tax incentives and financing options, and reach out to local real estate groups or mentors to better understand the market.Good luck!

From my understanding, many require it be held in an entity name for compliance reasons. 

I obviously have no way of verifying whether you own the asset or not, but find it odd that you'd throw away years of attempts at building your reputation and leave BiggerPockets rather than simply shut Melanie up by stating that you own the thing. 

I understand I file for the net loss.

Most of the responses show lack of understanding of how it works.

Owners do NOT understand this:(

Quote from @Brandon Stelling: Is there anyone who can help me understand how to leverage real estate investing being a military vet with 100% VA disability benifits?