To make the strategy successful, you need to find a property that can be acquired below market value.

To achieve REPS status you need to be actively involved in your rentals.  

Evaluate the situation to see if you could have done anything differently to mitigate the loss and implement changes to your processes, but know that this happens and hoepfully just not too close together. 

Welcome to BP~ I want to encourage you to look in your local area.  

It took up a lot of logistical time too.

Positives are proximity, low property taxes, no income taxes, no weather events, very low maintenance stucco/tile structures, “young” properties (5-20 years old) 

I dont currently have any projects going in CA at the moment but I have been looking for a Summer cabin up by Truckee and I suspect insurance will be an issue although I will pay cash but I will still want some coverage.

This is a good tenant of 5+ years, and I don’t want to cause unnecessary friction (I’m just trying to set up automatic systems for myself).

@Jeff Nash would be a great resource to speak with on companies/investments to offset your W2.

Purchase price: $850,000 Cash invested: $500,000 Sale price: $2,250,000 Purchased , knocked down, built new from ground up What made you interested in investing in this type of deal?