And remember, the tax liability on the forgiven debt is Ordinary income, verses a capital loss for a reduced sales price, that may be limited in annual deductions.

My view is yes, ordinary income just like wholesaling.Here's a decent over view of real estate taxation, which doesn't mention wholesaling or wholesaling LOs unfortunately.REI taxation and dealer statusAnother article discussing wholesaling:wholesaling tax implicationsAnother read:avoiding dealer status

If he has no job he pays tax on all of it no standard deduction and tax rate is our ordinary tax rate not the lower rate he would pay nor a capital gains rate.

As for ordinary HOA/COA's obtaining super lien status, in Florida......not happening.  

Brit.

It is taxed as ordinary income, including SS/Med, there is no confusion.

Great ways to earn money at ordinary income tax rates, but you have to continue seeking deals and working over and over.  

Your rental income property might still generate a tax loss on paper, but you would probably lose the ability to offset that tax loss against your other ordinary income.    

If you still have a net capital loss on Schedule D, then a maximum of $3K in capital loss migrates from Schedule D to line 13 (1040) where it offsets other ordinary income.  

You do not need an appraisal if the property is:Nonpublicly traded stock of $10,000 or less,A vehicle (including a car, boat, or airplane) for which your deduction is limited to the gross proceeds from its sale,Qualified intellectual property, such as a patent,Certain publicly traded securities described next,Inventory and other property donated by a corporation that are “qualified contributions” for the care of the ill, the needy, or infants, within the meaning of section 170(e)(3)(A) of the Internal Revenue Code, orStock in trade, inventory, or property held primarily for sale to customers in the ordinary course of your trade or business.Although an appraisal is not required for the types of property just listed, you must provide certain information about a donation of any of these types of property on Form 8283.