(I had additional carrying costs from a HELOC, which meant I walked with around $45,000).Aquisition:We found this deal on a wholesalers website who we keep an eye on.

You may show losses that can be carried forward and offset future capital gains.

I also carry $1M of insurance to protect in these instances as well. 

But Gino can you pay your credit cards every month or do you have to carry a balance ?

- Who carries the personal guarantee on the debt?

In one of my projects, the landowner agreed to carry back a note, which freed up some capital for construction costs.

I do my best to honor both, and God has blessed me more than I deserve; including having a portfolio of rental properties, which is a story in itself that came about because someone offered me a house on an owner-carry contract because he knew I could never afford to buy my own while living overseas.  

Such properties tend to carry less risk and can help facilitate scaling up for future investments.

If equity, do you structure with a pref and carry, or straight split?  

Depreciation helps reduce the taxable rental profit, potentially bringing it to zero or even creating a loss, which can carry forward to offset future rental income or other capital gains.For high wage earners, other tax strategies could include leveraging cost segregation studies to accelerate depreciation on rental properties through bonus depreciation, taking advantage of tax-deferred exchanges (like a 1031 exchange), or maximizing deductions related to property expenses (mortgage interest, property taxes, insurance, repairs, etc.).