So it was decided.

Many investors/Contractors like yourself gain a ton from other members here.

Do you get a benefit for allowing the tenant to have the dog, such as a pet fee?

It is now treated as a former passive activity and those prior losses can only offset income from that same activity going forward. 

Maybe selling is the best option stop the bleeding and do something that is more risk adverse. 

Gives you more options.- at year 7 if value appreciated a lot, can i do a HELOC on it and use that HELOC to pay off the balloon - probably not due to lien being secondary etc on helocYes on the HELOC, but it would probably be easier just to refi and pay off the seller, and cash out more money too.Hope that helps and good luck!

as mentioned the most common way is you do a cash out refinance to buy an ex out of a property.

The idea of acquiring a new property every few years to build a strong portfolio is something we’re seriously considering.I appreciate the insight, and it’s great to hear from someone with experience.

Anyone have experience using Turbo Tax Premier to do their taxes having investment property(ies)

If you think doing business with us is "too good to be true", then please do additional research.