Unless you or your wife can qualify as real estate professional status and claim passive non-cash losses against your active income.

The best tools to take advantage of as a new member are the keyword alerts and local meetups.They help you find the right discussions and connect, in real time, with like-minded folks in your market.All the best to you!

Purchase price: $10,000 Cash invested: $75,000 New construction, purchased a home in condemned form form being I could do repairs and wife could sale being her real estate firm What made you interested in investing in this type of deal?

I'll hit two things real quick and hopefully they help.

Rule of thumb is that waiting in real estate rarely pays off. 

I do fortunately have room to absorb that loss, but with increased taxes, insurance, and maintenance/repairs starting to get reeeeally thin on the margins 😬Yeah, I hear that.For me, real estate has always been a long-term game.

Good or bad for the City of Philadelphia and more specifically the real estate market?

Then you can read a more in-depth book like The Book On Rental Property Investing by Brandon Turner or The Unofficial Guide to Real Estate Investing by Spencer Strauss.2.

The reason I say could is because your current income, tax situation, and real estate investments can dictate if buying real estate might benefit you.

. § 452.03 states that no person may engage in or follow the business or occupation of, or advertise as a real estate broker or salesperson without a license.