Cost segs unlock these savings, but the losses won't offset your ordinary income from your job unless you are an RE Pro.Here's how to think about RE Pro status to make the best case with your CPA and the IRS:RE Pro Status starts with the IRS definition of a Real Estate Professional (IRS Pub 925).It is not as simple as getting a real estate license or working for a firm that provides real estate services.Ask yourself these questions to see if you qualify:Q1: Are you in the right business?

Borrowing against your 403(b) would avoid penalties, but this is unavailable if you’re no longer with the employer.This post does not create a CPA-Client relationship.

(this will help with mindset around investing)Tax-Free Wealth by Tom Wheelwright, CPA.

Yes, my cpa told me the same thing about depreciation. 

Alternatively, consider a cash-out refinance to access equity without triggering capital gains or explore a 1031 exchange to defer taxes by purchasing another investment property.This post does not create a CPA-Client relationship.

I’m an investor and CPA myself. 

If you sign a lease with a nursery school teacher and CPA with credit scores of 800+ with a 3-year-old, what’s the likelihood that they will suddenly start cooking meth and destroying your property? 

I was scrambling at tax time my CPA required I pull/provide a statement although I’m just holding no realized gains.

Choosing between these depends on your financial goals and risk tolerance.This post does not create a CPA-Client relationship.

With a 1031, you would have to meet stricter timelines (identify a new property within 45 days and close within 180 days) and use a qualified intermediary.Recommendation: The 1033 exchange is likely the best route if you’re looking to reinvest and defer capital gains, as it provides more flexibility.This post does not create a CPA-Client relationship.