This is essentially giving you some of the cash from your improvement (presuming they are significant) , as well as a steady stream of income into the future - which helps you long term in numerous ways.  

I have read about this "net passive loss allowance" in numerous articles and it has never made sense until now.

Respected for his unique blend of creative and analytical thinking underpinned with a commitment to collaboration, intelligent risk-taking, entrepreneurial spirit and leadership presence within dynamic organizations he knows how to keep it real and close the deal.In addition to his business interests, Mark is involved in numerous community outreach and volunteer organizations including the South Brentwood Residents Association (advisory board member,) local homeless advocacy group The Giving Spirit (chairperson-fundraising, community outreach,) American Youth Soccer League (referee and division mentor,) and the Girl Scouts of America to name a few.

I'd like to think this could be useful in numerous ways.  

Would you all recommend keeping the property as our first rental or selling the property and reinvesting the 120k in numerous properties?

Would you all recommend keeping the property as our first rental or selling the property and reinvesting the 120k in numerous properties?

that is rotten in numerous spots and the frames of the wooden windows are rotted as well.

And a direct thank you to @Kim Tucker, @Chris Dawson, @Dan Krupa for their educational posts in numerous KC threads.

They will all have different political constraints as they are logically located in numerous different cities and political jurisdictions. 

If the answer is that he was just putting it in the bank, I would explain how he could be secured by making the loan to me and collect higher interest on his money.I would also offer him one other tidbit that worked in numerous situations.