Assuming you are both working and the rentals are long-term, rental losses up to $25,000 can offset W-2 income if your MAGI is under $150,000, with excess losses carried forward.This post does not create a CPA-Client relationship.

Please keep in mind investors, not every deal that you place under contract will close - that's just the nature of the beast when it comes to investing. 

Had to come up with the contractor's estimate too.

I never got the consultation, but was politely told my portfolio is probably too small to pay their annual fees (starts at $2500 and goes up).

The list goes on.

Hi Leo, its been years since I closed on a HUD property but you close on the property as soon as title is ready like any other property.  

I ran into these gugys personally coming out of the GFC were money was really tough to raise..

@Lawrence Mitchell,Welcome to the BP community. 

Vernon, Harrison, Yonkers, White Plains, Hastings, Ossining, etc.Also, we're showing the Yonkers flip property again this upcoming Saturday.

Many of the people that come are members of Lifestyles Unlimited so they sometimes talk about upcoming events for members only, but the meeting is open to everyone and they share some excellent information.