Ensure your investment pipeline justifies the fees, and consult the custodian about rollover options to avoid unnecessary expenses if investments slow.This post does not create a CPA-Client relationship.

As you note exiting any RE that does not have some appreciation of a significant amount over say a 5 to 10 year hold generally speaking is going to lead to a loss at sale.

I can pursue a legal action against the tenant or Baselane, but this will cost me additional $2-3K in legal fees besides dealing with a loss of at least $5K of rent and damages caused.

Both careers would see a sharp short term income loss, but once i'm established the money i'll make ought to be comprable to my next year income.

Not only that, they sued and won on a theoretical loss not even a factual one as the plaintiffs sued stating IF they (a) they think the result would have been (b). 

They can claim business overhead expenses, and they must file 1099s.REPS determines whether the resulting losses can be applied against your W2 income or not.

You may just have to take the loss and move on.

I've learned the easiest way to do this is ask the owner to remove everything unnecessary for guest use AND give us permission and the freedom to remove items as we see best.Less stuff in the home, less issues and less work each turnover.

If you reported a lot of expenses and showed a loss, then the loss will be treated as a liability in DTI calculation.

One attorney said it is a must, whereas other said confidently that it is completely unnecessary.