So, when syndicators and gurus promise you huge tax savings from their promoted investments - make sure you understand how PAL rules apply to you.Exceptions to PAL restrictions1.

He does cover some wholesale/rehab material but it’s not the focus of the program.

Your failed sewer is clearly not that.You discovered a material defect in the property and have an out if you want it.

If the tenant identifies an area of moisture that may be causing growth we immediately address the source of the moisture, replace and damage building material (usually dry wall) and or use mold cleaning solutions/mold blocking primers as required. good luck

I understand that at a minimum, I HAVE to register in CA since that's where the property is, but the lawyer is indicating that NV's a friendlier environment for Landlords so I should register in NV and just "do business" in CA.My questions are:  Is there a material benefit to registering in NV and then also CA? 

Once you own a million in real estate you are in the game in a material way that can change your life in the not to distant future.Best of luck, go make it happen!

They bring food and hats and other marketing materials.

Whether or not there is a self-employment tax attached is based on whether or not you materially participate in this business.

I've heard Baseline ads on the podcasts, but I've also heard promotions for Relay.

I did look at some of the material participation criteria and we should easily surpass the requirements since we pretty much spent time improving the home ourselves, managed all guest communication, etc.Thoughts?