Welcome to the world of real estate investing!

@John Zhang If your wife qualifies for Real Estate Professional Status (REPS) and materially participates in managing rental properties, there is no limit on the amount of rental losses, including depreciation, that can offset your W-2 income.

In my experience, a suit for specific enforcement of a real estate purchase contract is not particularly complex or fact intensive that would lead to extensive time needed for discovery. 

Land priced right, zoned correctly, market analysis great and potential competition low.  

We pride ourselves in keeping the forums positive, helpful, and focused on real estate (please, no politics, religion, etc.).

I'm a newbie to real estate investing and am currently focused on intensely educating myself about all things real estate and how to get my first rental property deal.

I am currently in the process of identifying land for a purpose-built residential assisted living and memory care facility in Houston, TX.

Hang out with others that are doing what you want to do and invest your $25-$50,000 in real estate vs education. 

Since you said you are selling your building I’d argue you already have been a real estate investor.

What Does it Take to Achieve the Dream of Full Time Real Estate Investor?