What’s the purpose?

My insurance company won’t let me rent my 2 car garage or an office space that I have because it poses a “threat” of a non-tenant person coming onto the property and potentially posing harm to my residential tenants.

NJ state return specifically tracks the loss carry forward.Also, what do you make of this statement from CO tax booklet “A nonresident of Colorado may source to Colorado passive losses carried over from prior tax years and claimed in arriving at federal adjusted gross income to the extent such nonresident had Colorado source passive losses in prior tax years not previously claimed for Colorado income tax purposes.” - does the last point mean that CO passive losses used in prior years (not just previous year or current year) for offsetting passive income at federal level can be used to offset CO passive income in current year if they were not used for offsetting CO passive income in prior years (because there was no CO passive income in prior years)?

So all the rental income is passive for tax purposes. 

My question is how long do you personally wait to see how your Airbnb venture is going to go until strongly contemplating long term?

I personally have nothing but nightmare and horror stories, not necessarily problems with the tenants, just problems with the procedures and the paperwork, poor communication from the HUD caseworker etc... 

Not RE-specific but I'd recommend Die With Zero by Bill Perkins and Revitalizing Retirement (focused on our purpose and relationship portfolios) by Nancy Schlossberg.  

Exploring out-of-state options for a duplex can be a viable strategy, but it's important to weigh the pros and cons based on your financial situation, investment objectives, and personal preferences.

For educational purposes and future planning, is there a downside to having a large net operating loss carrying over into future years?

Not only have I been taught the path towards financial freedom through multifamily real estate, yet has also help me discovered my purpose in life through growth mindset.