Quote from @Christopher Stevens: Does anyone know how we can write this investment off to help reduce our tax liability?

sometimes to reduce borrowing costs, I'll use a hard money loan solely for the purchase, and then pay for the rehab in cash or use a 0% credit card (I don't recommend that for new investors!)

House hacking is a great strategy for beginners—it lets you reduce your living expenses while building equity.

But the risk caused by this, is that the safety cushion is reduced or completely eliminated, and a small problem can cause a catastrophic default on the debt.So, many of these aggressively structured deals have been heavily distressed.

You can overcome this by putting more down, which reduces you ROE and COC return, but if the appreciation is good enough you can make up for this with overall returns over time as rents increase and the property appreciates.

Now, I will suggest the following:Create a financial plan that includes the following:One year goal: reduce your expenses, including credit cards.

If you are working with a reputable company, then you buy the property, hold the property and look up 7-10 years down the road and have a home that has increased in value and a debt that has been reduced by your renter.   

The plan aims to reduce living costs, gain landlord experience, and move closer to long-term financial goals.Good luck!

Opportunity Zones can be a great way to defer or reduce the tax liability created through the sale of cryptocurrency.

There's a sucker born every minute.The best way to build wealth is to increase earnings, reduce expenses, save, and invest wisely.