Quote from @Wei Jie Yang: Quote from @Amir Khan: So your 5-plex will help you with your ability to get into commercial real estate.

Quote from @Chengning Yang: I have an off market property currently for sale, and there's a potential buyer who wants to purchase it with cash. what should I do next?

Last I checked FTHB's have ability up the ying-yang to buy a home for way less than $25k down, and the down seems to next to never be the issue, it's the PAYMENT vs INCOME, the DTI, loan servicing...... $25k down does diddly-squat for that except in the handful of markets where one can buy a house for the cost of a garage in most other markets.

I believe in practice it does not actually offset the capital gains but reduces my taxable income dollar for dollar with the loss, as long as my Modified Adjusted Gross Income (MAGI) is under $150K.

When you make over $150k MAGI, you can’t take losses against active income.

Quote from @Chengning Yang: What kind of insurance do rehabbers get?

Hi Yim Yang, how did it pan out?

Tim Yang - So, let me get this straight... you think that no company should ever have to spend even a dime on advertising. 

asset worksheets for each depreciable item - between 3 and 30+ pagessupporting statements for line items - between 1 and 10 pagesautomobile expenses worksheet - between 2 and 8 pagesForm 1098 worksheet(s) - between 1 and 4 pages per mortgagestate-specific worksheets, MAGI worksheets, passive losses worksheets, and a whole lot moreBy the way, including these extra worksheets will not create more work for me, they are already inside my tax software. 

MAGI includes capital gains recognized.