Real estate investing is so broad.

You need to define what you're looking for first.

If you use the 2% and 50% rules of thumb in evaluating price (and there is a lot written here on BP), you'll find that all too often prices and "cash flow" in the retail market are defined as Rents less PITI, a very short term possibility, but a certain long term cash loser.

Lots of very knowledgable people here.If I did a lease option, I would definately work it so that the buyer can purchase the house.

They are definately in favor of it, but not sure how that works with commercial properties.

Hopefully my very broad guidance helps!

I did my best to define the rules for RE agents in my initial post.

While you can't write them off this year (because of your AGI), you will be able to carry them forward and write them off in a future year when your AGI (and loss limits) allows.Unfortunately, this is just one of the detriments to how the IRS defines "Real Estate Professional" and I'm not sure there is much you can do to offset it.Personally, I disagree with you CPA about investing in a personal residence first just because you can't write off the losses.

I've only sent out 200 so far and have gotten 2 calls. 1 of those calls is currently transforming into a deal but we need to define some terms.

Want to definately learn other investing optionsWhats the difference between wholesaling, doing an option and doing an installment contract?