FULL STOP  Your ability to make such a profit will depend on your ability to manage the asset better than the prior owner.As a seller, the broker should be helping you determine the price point, at that time, that attracts enough buyers to achieve an optimal sales price.

Very inspiring to see someone with such poor social skills achieve their goals so quickly! 

I don't know what your lifestyle is like, but if you're able to save $200K-$300K or so per year, this is extremely achievable. 

Quote from @Susan McBride: What are you trying to achieve? 

They buck the passive rules for 469, and are considered active.BUT - As with any other business, to deduct the losses the owner must materially participate.Material participation is achieved by:1.

It is November 25th and there is only about 35 days left in the year with a lot of professionals who take off the last week of the year.Given that information, you will likely need to buy a poperty with a quick close to achieve what you are looking to do.

Also, achieving the 2 percent rule in my local market is near impossible but could be achievable elsewhere.Thoughts?

How quickly do you think you can achieve it?

If your place is very well maintained you may be able to achieve higher than average returns.

Our goal is to start and grow our portfolio to achieve financial stability, more family time, the freedom to take vacations, and the ability to live life on our terms.