you are in the right place for learning . every day read as much as you can and soak up all the invaluable knowledge here on these posts .

As Michael mentioned you just need to respond to the IRS and state this is what you're doing.

It saddens me to see this percentage creeping upward constantly.

It would help if you could be a little more specific about what you want to learn.1.

No excuses for being unable to read or understand it.

Spend more than half of your total working hours in an RE business in which you materially participate.2.

Looking for help and suggestions- I want to say I have learned my lesson and now know to use a third party to hold funds.This is my first time working with a private lender/family member.

I have the funds to buy another primary residence in this area but not enough for an investment property that would require 20-25%.

Here's a couple practical steps I'd recommend to help make your decision:1.

Let me know if you need help with specific tools or anything else.