I'd love to connect - I'm licensed in AL and actively work with Foreign Nationals, I am working a portfolio deal right now for someone who also lives in Israel. 

In your scenario, claiming that $117k depreciation deduction could lower your taxable income from $700k to $583k, which is a huge benefit in the short term.As for the RE pro status, if one of you becomes a full-time real estate professional, you can potentially offset active income (like W2) with passive losses from real estate. 

Beautiful weather, outdoor activities, and a vibrant culture add an extra layer of appeal for both residents and investors.But Florida isn't a one-size-fits-all market.

Paying off rental mortgages increases monthly cash flow but reduces liquidity, while investing in hard money lending offers high returns but is taxed as ordinary income.Buying a multi-unit rental provides tax benefits like depreciation, while purchasing a business can yield strong profits but requires active management.

Quote from @Feroz Penangwala: Hi everyone, I’m curious—how many of you are actively closing real estate deals right now?

Otherwise, you should be more active and flip homes or develop ground up which is far from passive. 

As active realtor, and investor I get a lot of people approaching me who want to invest. 

The priority is consistent recommendations from active investors.

Learn the lawsDon't use a contract "off the internet", laws vary by state and are also regulated on a federal level Learn the financing techniques correctlyDon’t skip parts of the processDon’t ever do a “kitchen table” closingUse the proper deedAn attorney can help you with the legal work, but the rest you are on your ownYour guru will not bail you out“Investing” in someone else’s deal by providing a small 2nd loan so the “investor” can pay for “cash to the seller” and for “closing costs” so he can do the deal is a very bad planKnow what problems can ariseLearn the responses and solutions to problems before they are needed Know everything there is to know about Title and what that meansKnow who a "protected class" individual isLearn the "back doors"Learn human natureUnderstand timelinesUnderstand regulation enforcement (some of these "mistakes" have a 10 year statue of limitations ( they can charge you 10 years AFTER you do the transaction) and carry hefty fines and possible imprisonmentThe court doesn't accept "I didn't know" for an answer"Know that the source of the lead plays a serious role in some states and federallyKnow how much of a "profit" pushes the boundaries to invite an investigationYou can be sued by the seller if you don’t do things correctlyYou are automatically at fault if an investigator or attorney or regulator gets involved.

This is a highly regulated activity by the CFPB.