Aka I don’t have much desire to buy something SE of town since my long term plans are to be northwest of Columbus.

It's likely passive though because rental activities are per se passive under 469 except for real estate professionals who meet the material participation requirements, or it is another exception available.Those business expenses are probably lumped in with other amounts on box 2 of the K-1 as net rental income/loss.I don't understand the pre-tax expense benefit, I would be more concerned with whether or not it even enters the income tax calculation or is suspended at the partnership level.

Keep in mind your LLC isn't a "business" per se.

The neighborhoods in the SE Corridor of the city seem to be the most out of touch neighborhoods.

As a result, since the enactment of Sec. 469(c)(7) in 1993, taxpayers with rental losses have sought to meet the qualification of a real estate professional to prevent those losses from being treated as per se passive, potentially allowing the losses to be used without limitation.On Jan. 1, 2013, qualifying as a real estate professional suddenly became meaningful even to taxpayers with rental income.

Hey John,Not sure if you found someone already but if not I am an experienced SE in the LA area.

One of the best things I've read is that in RE investing, you are not investing in the house per se; you are investing in the area.

I'm not certain which post you were referring too, but if it was mine, I should elaborate and say that just because there is no GC license, per se, the position still exists.

Fluctuation in the currency exchange rate can be severe. 2) Political risk but what country in SE Asia doesn't have this ! 

If this county treasurer has a website you can se if the lien have ever been redeemed.