Whether you can utilize the losses or not, you have to look into your Modified Adjusted Gross Income(MAGI).MAGI will include gains and W-2 income along with other items.5) If our income did grow enough that we were over the 150K limit and those losses were 'carried forward' I *think* those would come into play when we sell the property?

@Nate Ginsberg I do believe @Frank Yang is correct you won’t find them to do down payment/Reno cost as a second lien holder.

The AOC's, the Andrew Yang's and the Ilhan Omar's. 

For most people, they are capped at $25,000 net losses to write off on their w2 income.HOWEVER, it sounds like your wife is making a lot of money and the $25,000 net loss deduction is caped and completely disappears with individuals making a modified adjusted gross income (MAGI) of $150,000.

Hi @Steven Yang, I am a local Realtor and investor and have helped several BP'ers, I am under contract now with one in fact.

@Dennis Yang I honestly think rather than trying to open up a chain of HELOCs with variable rates and interest only payments you're better of using the delayed financing refi option to convert your rental into a conventional 30yr fixed rate mortgaged asset which will give you back your original HELOC funds which you can then recycle and use for another cash purchase. 

Frank Yang is awesome, he generally wants to help people.

Myself personally, I am an "old dog" in the RE game, I have decades of experience behind me, licenses and certificates up the ying-yang, and clients work with me for all of that, what I have in my mind, I don't think most care what I dress in at this point short of showing up in sumo attire.

Is it part of my MAGI I report to the IRS?

@Aaron Yang Thanks. great, will connect with Mark.