However, passive loss limitations apply—if your AGI exceeds $150K, you may not be able to deduct the full loss in the current year but can carry it forward to offset future passive income.Future Considerations: If the property generates taxable income in later years, Kansas allows a credit for taxes paid to Missouri, but since you’re reporting a loss, this doesn’t apply.

Do you know where I could find/access lists of seller carry back notes?   

If part of the property is rentable while renovations are happening, that could help offset carrying costs.Given your construction background, you’ve got a huge advantage in managing the project efficiently—it’s just about getting through the red tape and de-risking the unknowns before pulling the trigger.Have you talked to any local investors or contractors who’ve tackled similar projects in Wicker Park?

Increased revenue and decreased parking demand allowed us to carry income-restricted units as well.We originally planned on spinning it out into a brand, but we never had the bandwidth to do so.Our largest hurdle has been education as most of our tenants are coming in to rent traditional units.Investors did not love it. 

She's not in great health herself, but seems like she can still carry on a few more years if nothing bad happens.

Bigger upside, but second position always carries more risk—if the first lender forecloses, you could lose it all unless you can step in.Best move?

Shes carrying 60k in debt from student loans as well as cc bills, but she makes payments on time.

If you’re comfortable carrying some debt for a bit longer, a HELOC or cash-out refinance may provide more flexibility.

Bank pushed us to 40% down payment so also executed a $85K seller carry-back loan to cross the finish line.

But any depreciation amount beyond that can be carried over to future years.