Most wholesalers require no-refundable "earnest money" so in the event the buyer backs out of the contract, you are not at a loss. 

They can be  classified as ordinary income/loss or capital gain. 

Visit any of the places on this year's Best Cities On the Rise list and you’ll quickly understand why.These reader-selected cities have excellent food scenes, cool yet quaint downtown districts, incredible natural beauty, thriving arts communities, and the warmth our region is known for.

How much for personal property and loss of income?

For the 1099 income, you'll also need something like a profit-and-loss statement for 2024 to show that that income is continuing.Rental income from a roommate?

Yes, you should do it if you can release the losses now or in the future.

The high prices are attributed to the necessity of importing most food items into Nevada.

there is a popular weed shop right across from us too. i feel they wouldnt mind considering food/weed would be so close and we'd get business from them too so i can give them discounts. whats your thoughts on this?

@Kalen AdamsonNot tax advice as a cpa can respond but typically when you cash in stocks that gain is taxed (if owned for a while at qualified dividend rate).You could take the cash, hold money for taxes and put that money as a contribution to the LLC and then start investing in real estateIf you invest in real estate you may get depreciation etc whixh could be paper loss and potential reduce tax obligation but the entire picture needs to be looked at

We are wanting to get back to being self-employed but are at a loss for what steps to take next.