Because of the additional income I am producing through the consulting business, I am afforded the opportunity to invest money in real estate.  

It is much better to have a reserve fund and add it monthly.

If you’re comfortable with a bigger investment, a duplex is good for the benefit of additional cash flow and you could house-hack.

Give them a 60-day notice, then charge them a prorated rent for the additional 20-day extension.

Additionally, the city is actively encouraging redevelopment and attracting businesses back to the area.

My best advice is find a place that has a few rooms with square footage to add additional rooms and an ADU.

Generally, a loss can only be claimed in the tax year when the investment becomes completely worthless or when there is a final determination that no further value will be recovered.If the REIT has officially liquidated, been declared insolvent, or issued a final report confirming that no additional distributions will be made, you may be able to claim the loss on your 2024 tax return.

Of course, I had to make additional assumptions about the cost of property taxes, insurance etc. 

Electing disregarded entity status avoids additional filings while achieving the same tax outcome.This post does not create a CPA-Client relationship.

My budget is in the $200-250K range.Please feel free to let me know if additional details would help, and thank you in advance for your time and advice!