There are several different types of income in the US tax code.Two main types are “active income” and “passive income".Active income is money you earn from working, such as wages from a W-2 job or income from running a business.Passive income is money you earn from investments like real estate, stocks, or rental income from your RE portfolio where you earn $ without actively working.Normally, you can't use passive losses (like losses from real estate investments) to offset active income like your salary from a W-2 job.That is unless you are an RE Pro.The reality is, that Real Estate Pro status is just a filing status similar to filing married or jointly.And if you are a real estate professional you CAN use passive real estate losses to offset active income from other sources.To qualify as an RE Pro you must:1.

I am in contact with an attorney in RI and we are looking at possibly doing a joint filing against Teshaw.

File a police report.

As for the info being wrong - I know that filing a complaint against the listing agent for misrepresentation could be an option.

All of this is 100% true and verifiable through the IRS. if the borrower files certain documents.

They filed an eviction on a tenant mid-escrow and withheld information on eviction until I saw a posted eviction notice on the door after closing.

I'm curious ultimately how man lawsuits will be filed and the circus that will be.I think the rebuild will take minimum of 3 years and many over 5 years.  

Why Insurance is Not Enough Unfortunately, the landscape with guests and how often lawsuits are filed, has changed dramatically in the last 4-5 years and it's a risk no STR homeowner should take!

I would have just filed a lawsuit against them and took it from there.This situation is quite complex.

No offense to realtors but how a property is set up or length of time it has been rented for has no bearing on the legality of the property records on file if they differ.