Just curious, is there any tax benefit to filing as a regular partnership and issuing k-1s to ourselves that show a loss?

So a loss of about 55k We did a lease to own option so I could immediately take over expenses but keep their primary resident loan and interest rate.We agreed to a deal which would cover all their expenses at closing, their remaining loan balance, and $45,000.

So a loss of about 55k We did a lease to own option so I could immediately take over expenses but keep their primary resident loan and interest rate.We agreed to a deal which would cover all their expenses at closing, their remaining loan balance, and $45,000.

Is that why you’re leaning toward renting, even with a $1K/month loss?

I'll keep it fully furnished, so I can potentially charge more, especially since it’s also near a major hospital in Astoria and close to LGA.Do you think this plan is feasible?

Passive Activity Losses: Are there ways to offset my W-2 income with rental losses, or do I need to qualify as a real estate professional for that to work?

Throughout the year I come across situations where people need to sell there home due to a variety or reasons, job loss, income loss, health, divorce, etc.

Even with having made improvements, anyone selling now who purchased in 2022 should be expecting a loss.

@Ryan Johnston If your rental is costing you $75–$150 per month, weigh the long-term appreciation potential against the ongoing losses.

Loss of Use / Loss of Rents: Normally, there is a 20% included limit.