They also cause a lot more moisture in the air, fogging up the mirrors a lot faster, which is annoying to live with.  

. $10k in losses will reduce the federal tax due by $1.5-2k.However, the state tax due gets lowered by a very small amount by using passive losses to offset passive income as I assume state tax rate is quite low (I live in TX, so never worried about state tax) compared to long-term capital gains rate of 15-20%.

However, interest on the same debt used to pay personal living expenses, such as credit card debts, is not deductible.But, wait there's more... 

I live in California, and am looking to purchase my first rental property in Illinois.

I cold call in Dec 2019 for a townhouse that the seller's son was living in but she was waiting for his to move.

Minimalistic yet tasteful staging allows the buyer to see themselves living in the home.

We have lived in the MIL and rented the rest of the home.

I live outside of Idaho Falls.

There are fix and flip loans where the total loan amount needs to be $100K between rehab, property purchase price and buyer down payment (usually 10-20% for a fix and flip loan depending on the property and borrower credit) (so the property before rehab can be worth less than $100K).If you are looking for a loan for an investment property you won't be living in that doesn't require significant rehab / ready to rent / is already rented an option is a DSCR loan.Some DSCR lenders will go down to a $75K appraised value and a $55K loan amount. 

I've watched my parents reach great levels of success through real estate, and I've heard countless stories and witnessed first hand in other peoples lives the power of real estate.