It is carried forward on the taxpayer books until it can be used.Bottom line syndication investors get the same host of deductions other real estate investors do to the extend they offset other rental income.

Have the seller sit next to you and call the taxpayer advocate service.

Cost segregation studies can be incredibly beneficial for property owners depending on the property and tax payer situation.

Which is to say you or your current entity (same taxpayer) needs to be on the new deed, since you dont have a partner now the only way to do that is to both you and your partner being on the new deed. 

Tax Cuts and Jobs Act of 2017, enacted Dec. 22, suspends from 2018 until 2026 the deduction for interest paid on home equity loans and lines of credit, unless they are used to buy, build or substantially improve the taxpayer’s home that secures the loan.So yes you can still take it as a deduction as long as it qualifies.

There is a special 2-year rule for the sale of a primary residence that could exclude up to $250K in profit per taxpayer from capital gains taxes.Just because you are in the 10% marginal tax bracket does not mean that all of your income is taxed at 10%.  

My monthly property tax payment will go from $218/mo to $627/mo; clearly this will negate my anticipated positive cash flow.I'm looking for opinions on what to do in this situation.

From the tax payer's standpoint, shortsales are best and I therefore promote and believe it shortsales, it is at least an attempt by the homeowner to come clean.

When a qualifying principal residence is sold, up to $250K capital gain per taxpayer that is due to appreciation can be excluded from taxation.  

Document your hours using a log.There are court cases of taxpayers not having a log and their position was thrown out resulting in added taxes, penalties and interest.