There will likely be a partnership return required where you flipped a house with a partner and lost $120,000.If you sold the other property within the same partnership, it will also be reported on that partnership return.The net result to you is that you will receive a K-1 showing your income / loss which you then use to report on your individual return.If you made no money within the same year, you likely pay no additional taxes / get no additional refund.Best of luck.

Over the last 10-12 years, the city’s been on a steady climb, and for good reason.

@Joshua Christensen Coincidentally I met the managing partner of Infinite Capital, Javier Pineyro last week for coffee.

Has it developed much in the last 5 years? 

Does anyone have an attorney recommendation in Texas or other recommendations to remedy this loss?

Just last year I expanded my property portfolio in California which now includes Orange, Los Angeles, Riverside and Kern counties.

I could tell you to invest in Milwaukee, you can still find cash flow positive duplexes here in good neighborhoods around 350k and we have had very consistent 8% appreciation over the last years.

Also, very cheap to maintain, lasts long, and is efficient! 

I had seen the article last week and it is very informative for a remote investor.

Last year, I purchased a SFH under market at 7.65% interest rate and did some rehab to up the value.