If this scenario applies to you, then you should answer YES to the question that asks if you are an active participant in the property management.Changing your answer to yes will then allow you to take advantage of the net passive loss allowance.On the other hand, even if you said YES to the active participation question, the net passive loss allowance is phased out if your ordinary income is too high.  

However, I toy with the idea of leveraging our properties to find the next investment that could bring in the income to bring my wife home from work or at least give her the OPTION.

On the other hand, if the house is not entry level, the buyer is a wealthy, he will not need a loan and an expansion might make it more desirable.One additional point which you alluded to. Yes

Everyone who owns an older home has dragged all the soggy belongings (furniture, appliances, clothes, toys, knickknacks, etc.) out to the streets which are covered in mud, and there are downed trees, fences, pool cages, boats on front lawns, a major mess.

@Susan Guzzo You're already off to good start, most of the time people have trouble with their exchanges its because they aren't laser focused on one area for their replacement.

Hey all, we are speed networking in person at MAREI in December if you want to talk to people in the KC Market, not just type at them, join us on the 13th, - it's posted in the networking session here on BPEntry fee is a donation to toys for tots.Room is almost full at 75 registrations.

My advice for new investors is to stay laser focused on developing a strong track record.

Stay laser focused on one or two things at most.

We don't have a tremendous supply here so I have toyed with the idea of getting into the Lynchburg market.

I like to buy toys/equiptment/boats ect for great deals and use them for a few months and sell them for good money.