As long as one person is a real estate professional, you can usually use rental losses offset joint income.

Expensive lesson learned but you will recover

There just generally a thought loss in the U.S. for real actual innovation for far too many years.

Income Late fee Gross rent Expenses Advertising Cleaning Gardening/lawn mowing Insurance Interest on loan(s) property tax Legal expenses Pest control Property agent fees/commission Repairs and maintenance Water charges Electric Bill Total expenses Net rental income or (loss)

@Lucas Schlund the same thing that happened to all the STRs in NY City when their ordinance went into effect, as well as many other cities.Owners must comply and the government doesn't care about your potential losses:(

I'm sorry to hear about your husband's job loss.

You want to be careful not to bite off too much on a first purchase so maybe if more four units or less or available that could be a better starting point with less risk and more ability to learn without potential loss.

At face value, it sounds like you believe that some of the operators of MFH that have purchased in the last 18-24 months may have to cut losses next year providing new investors a much better deal.No.....

@Mary Jay why did you report it if there was no loss coming out of your pocket. 

We shall see, I will update if I see a loss but again do not expect it.So my life has been consummed with putting together the 1st few concept drawings of my project.