Covid19 had nothing to do with my situation.

And hopefully I can be financially independent by paying the mortgage down eventually.  

Have an interesting situation, looking for ideas on the best way to solve a problem for a distressed homeowner.

Consult with a qualified tax advisor who understands these limitations and can help develop a comprehensive strategy aligned with your specific situation.Remember: The best tax planning looks beyond immediate deductions to your complete financial picture.

While you should always consult a CPA and/or attorney for their professional advice, here's my 3 cents (I'm sure others will chime in as well):1) Having an LLC may make it "easier" to track but it's not needed in this situation as you can run this through your personal return just as well.

May affect your ability to work in the financial field, or in any managerial position of a company that’s raising venture capital8.

However, our goal is to help 100k investors obtain financial freedom - hence the reasons why we provide many videos, podcasts, programs, and services to help with this journey.Unfortunately, we cannot promise that every deal we help you get under contract will close.

Do you need to empathize with the seller and their situation?

-------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

When you invest, it is a good idea to have a 5-10 year hold horizon that you are planning for, not just looking at the immediate situation in an area.