@Don KonipolI see these all the time on commercial properties but have never seen one on single family residentialDo they exist in that world?

Aggregation Election.You can elect to aggregate all of your real estate activities into a single activity for purposes of meeting the material participation requirements.

We would not have been able to attract a single investor with that strategy.

I am very eager to start my real estate investing journey — I have a large amount of capital that I am looking to invest into single or multi family homes.

If you lived there 2 of the previous 5 years any profits from a sale would be exempt from taxes up to $250k for a single person and $500k married filing jointly.

On every single transaction, other than in 2011 when everything went belly up, we made money and we moved up. 

I have 4 properties and I'm getting a CPA for 2024 since I sold one (that was the 5th property) but I held it for less than a year, sort of like a did a bad flip but I did intend to rent it out (very long story).I'm guessing the OP has two single family rentals and not some large apartment complex, if OP is still there. 

Do you own any multi family or Single Family properties?  

I saw that depreciation can be corrected on a single form.Also I do not understand how/where to do a partial asset disposition in turbotax.

I’m looking to purchase a multifamily property, single-family home, or condo/townhouse near SMU, where my daughter attends school.