Yes, any business schedule with zero income but non-zero expenses is a classic IRS audit flag.

If you have made a lot quickly, I would sell and repurpose into two properties.

And, it is a classic old brick mansion, with many positives that he will wipe out with this situation.

If you want the basics, Rich Dad Poor Dad is a classic to get you in the mindset of investing, but doesn't teach a whole lot compared to other books. 

Classic newbie mistake.  

I wouldn't spend the money, since what you have is classic for that part of the country. 

We have Opportunity Zone RE and seeking JV or Partnership for Development of multifamily and repurposing warehouse space in Georgia.

Another classic 1% argument for those who feel disempowered and further pushing the blame to the "corporations".

Classic big PM company that treats your (OPs) arrangement like they're doing you a favor by hosting your home for you, rather than you doing them a favor by letting them make money off of an asset YOU own. 

Say you buy with your "private bridge lender" - you're going to have:-closing costs on the way in - which in some markets can be very high-expensive financing costs-other holding and utility costs - usually expensive insurance-closing costs on the refiThis can easily be tens of thousands of dollars, and it's just not possible to finance certain items - you have got to have cash.The classic example of "buy for 100K - rehab for 50K - ARV 200K - pull your 150K out" is way, way off.