Seems like we could be negligent if we allow self-guided tours and someone leaves a window or the back door unlocked and comes back to occupy or destroy the property later.  

At first, you won't be able to offset your W2 income with losses, but it is nice when you sell a property at a profit and all the capital gains are wiped out by losses from other properties.A huge amount of tax savings get unlocked if one of you leaves your W2 job to focus on real estate and you get Real Estate Professional Status (REPS). 

Using a cash-out refi to unlock $200k makes sense if you’re confident in your BRRRR strategy, as long as your overall portfolio remains cash flow positive.

Cost segs unlock these savings, but the losses won't offset your ordinary income from your job unless you are an RE Pro.Here's how to think about RE Pro status to make the best case with your CPA and the IRS:RE Pro Status starts with the IRS definition of a Real Estate Professional (IRS Pub 925).It is not as simple as getting a real estate license or working for a firm that provides real estate services.Ask yourself these questions to see if you qualify:Q1: Are you in the right business?

No, I am not saying syndicate but reality is that's where the big-$ is made, when you unlock OPM at scale.

I made this mistake recently because I keep my credit locked but forgot to unlock and was shocked when I got a denial... turns out it was my own doing, I temporarily unlocked and they fixed it3.

It's a small step to "unlocking" more real estate and more transaction volume.

But since you are new to BiggerPockets, you must know that you just unlocked an Indiana Jones treasure moment where all of the Columbus agents get an alert from a batphone to immediately drop everything that they are doing and come here, to this forum, to talk about Columbus because you asked about Columbus.

The key to unlocking all the knowledge from books and podcasts is people.

If go buy a property for STR, can I then unlock all the PALs from previous years for my LTRs?