There are several different types of income in the US tax code.Two main types are “active income” and “passive income".Active income is money you earn from working, such as wages from a W-2 job or income from running a business.Passive income is money you earn from investments like real estate, stocks, or rental income from your RE portfolio where you earn $ without actively working.Normally, you can't use passive losses (like losses from real estate investments) to offset active income like your salary from a W-2 job.That is unless you are an RE Pro.The reality is, that Real Estate Pro status is just a filing status similar to filing married or jointly.And if you are a real estate professional you CAN use passive real estate losses to offset active income from other sources.To qualify as an RE Pro you must:1.

And what are your main concerns about financing?

I think the main factors you should consider in Florida are the following: 1.

Is it a typical inn/bed and breakfast setup with all the rooms inside of a main house? 

An architect told me that even though ADUs should not be bigger than 50% of the main house, I should be able to permit this one with SB09 if I pay a fee (about $8k according to my agent).

I assume that the main advantage is being able to buy the property without the 180 day time constraint? 

The most likely main focus of many congressional hearings on this nomination will be on how to address the affordability crisis in this country.

While the offer sounds tempting, I want to ensure I capitalize on these contracts fairly and effectively.Here are my main questions:Should I entertain the idea of terminating my current contracts, or is it better to stick to my original wholesale plan?

People seem to buy mainly for appreciation, but I'm not sold appreciation will continue to rise the way it has the past 5 - 6 years, so feel like CF is the safer investing avenue for me. 

With all of that said, my main goal is to have long term appreciation and if there is a little extra cashflow at the end of the month, great.