I honestly wouldn't even trust anything QB is telling you when it comes to taxes.You're in a partnership, which acts like a conduit to pass through the income/loss of the activity to the individual owners.

I would do this first before engaging an agent unless you are extremely active.

Not to mention it's 70 miles away and the stress/sleepless nights. 5k and a free property?

Everyone was happy and relieved.

However, with less than 10% of realtors actively investing, it's crucial to vet them thoroughly.

The process is very involved as you'll have to navigate pre-construction activities that involve architectural plans and approval from the city and then the construction activities (Shovel to soil) take anywhere from 5-9 months depending on how much your building. 

You give me rockstar deal we will clean the house out and even if there were satanic activities going on, we will pray for that house and dedicated it to Jesus."

I think the first question is do you want to be an active investor or a passive investor? 

You will need to find partners, you will need to travel to where you wish to invest, you will need to understand the ins and outs of the business by being actively involved and treating it like a business and not some super passive investment.If you don't want to do that work I suggest you just put that 200k into some sort of diversified mutual fund that can make you 10+% on your money without any of the work of real estate.At the end of the day this is just my advice and I'm only a stranger on the internet.

Talk to your tax advisor about how to release your passive activity losses based on your situation.This post does not create a CPA-Client relationship.