But everyone's situation is different.I spoke with my accountant the other day and he floated the idea that I should refi my whole portfolio so I could "operate at a loss for awhile".

One of the many advantages being classified as a “real estate professional “allows you to offset income with real estate “paper losses “ like depreciation and other expenses.

I have a large amount of passive activity losses on my tax returns which will carry forward (not REPS so can't offset my W2 income) I don't know anyone who retired early/quit W2 at the age of 40 from their stock portfolio.

Please keep in mind that "suspended passive losses" or losses that are generated that are passive by nature, will STAY passive losses, and CANNOT be used to offset active income.

You might consider cutting your losses and selling it, or investigate STR options.

We enjoyed conversation and sharing each other's passions, visions and even a little business.

According to passive activity loss rules, every business is obligated to adhere to specific criteria, especially when it comes to short-term rentals.

You will still be faced with the passive income loss limitation.In my opinion, continue buying quality real estate investments and allow the depreciation to shield your cash-flow.This will allow your real estate investments to grow tax deferred.

Schedule E typically caters to rental income and certain types of passive income, while Schedule C is tailored for reporting profits and losses from a business or self-employment. 

One vision is to bring it up to market rent standards, rent it out, and potentially refinance to leverage our equity for further investment opportunities.