Quote from @Andrew Cargal: I want to share my experience with The Mortgage Shop.

Hi everyone,I'm Mayank, a new home buyer from Bay Area.With this post, I have no intention of offending anyone - however I do seek genuine information.In my past 3+ months of experience of working with an agent, they are available to show us homes as we requested. 

The 50% is rather deep a cut, especially with all the additional operational expenses not included into that 50%.

Unfortunately cap ex usually catches up to them and the appraised value rarely translates to a similar sale experience and all along the property has merely been a highly levered property.

Generally, a loss can only be claimed in the tax year when the investment becomes completely worthless or when there is a final determination that no further value will be recovered.If the REIT has officially liquidated, been declared insolvent, or issued a final report confirming that no additional distributions will be made, you may be able to claim the loss on your 2024 tax return.

Electing disregarded entity status avoids additional filings while achieving the same tax outcome.This post does not create a CPA-Client relationship.

It’s been an exciting (and sometimes chaotic) journey, and I’m always looking to learn from others while sharing my own experiences along the way.Baltimore is definitely a unique market with its fair share of challenges and opportunities, and I’d love to connect with other investors—whether you’re just starting out or have been in the game for years.

The deals not going to get better because of the questions you ask, but we look for three main things from an investor: 1) Liquitity/Financial Assets, 2) A good credit score, and 3, and this is a big one, Experience.

If you can add a legal ADU at $25k in the Austin area then you should add it.  

The other option is to find a partner with some experience and use that on the loan.