Draw schedule to be agreed upon prior to closing.Term: 1 YearFee to Lender: 2.5 points – ($13,125 paid at closing from loan proceeds).Interest Rate: 11.5% Interest-Only billed monthly on outstanding balance.Interest Reserve: $15,000 – approximately 6 months interest, paid at closing from loan proceeds.Once interest reserves are depleted, borrower to make interest-only payments monthly.Pre-Payment Penalty: Should loan be paid off prior to interest reserve funds being depleted, a pre-payment penalty will be charged equal to the amount remaining in interest reserves at time of payoff.Loan 2: Loan amount 490,530.60Lender Points: 3%broker points: 1%rate: 11.99%Term: 12 months (interest only)Prepayment penalty: NoneProcessing fee needs to be wired before LOI can be issued

The NC return is correct as is in my opinion.Remember that states often piggyback off Federal amounts, often AGI or taxable income (then make upward or downward adjustments for things like 179 or depletion).Since the passive loss did not enter the taxable income calculation at the Federal level, it won't flow to the state return when NC piggybacks.

Asset Depletion loans are an option.

And, if he has spent most of the money, the assets are depleted and you are further out of luck. 

Houses appreciated, however, cashflow is depleting.

You would of course not deplete all of your cash reserves on the down payment in order to service the monthly debt payment and carrying costs, but this should give you an idea of what you can accomplish now if the time is right.Many hard money products offer 100% funding for rehab costs so you would not need to save for this portion of the BRRRR project.

If you are looking to scale quickly, combining both may help you do multiple flips/fix and holds since you won't be depleting your HELOC each time you close on a property.

With EVs those are high during production of the vehicles. ya other than walking I think every mode of transportation uses some form of energy and does its share of depleting resources and pollution etc.

Rather than deplete the tax-sheltered IRA, you could continue to grow it and only distribute to yourself the minimum amount required, or perhaps a bit more here and there as suitable.

We have a well in a multi and bad leaks can deplete the well.