From the real estate you are going to be getting Passive Activity Losses (PALs) which is depreciation to offset passive income, potentially reducing your overall tax liability.

Thanks Can potentially help - do you have further details on the property? 

You might also meet someone that could be a potential business partner.

@Francis Faucher and @Matthew Gentile Thank you both.As I continue to research the syndicate or JV models where I do not have to be involved the day to day operations and decisions seem most aligned.Matthew, appreciate the potential referral for accountants.

He got a city official involved and the city eventually relented.Love that you're armed with the FL statues, and I appreciate that tip about potentially not being able to rent or sell for 12 months... awareness is key.:-) I WISH they would try that nonsense with me because I had contemplated pulling my own roofing permit (and hiring my own roofers) before I found a decent full-serviced roofer.

Here are a few potential types:* House hackers trying to figure out how to do accounting (I fall into this category, as I live in one unit of a 2-unit property)* Real estate agents who need accounting software, or transaction management software, or marketing software (I also fall into this category)* Landlords who self-manage and want something to help them with marketing, tenant management, accepting rents, etc., and also need bookkeeping/accounting software.

Whether it's renovating older properties, converting unused spaces into rental units, or adding amenities like laundry facilities or parking spaces, there are numerous ways to increase the income potential of a property.

In a similar vein, we look at occupancy comps in the area and consider the potential that a slightly more unique property might incrementally do better in terms of occupancy rate and by how much, etc.

I am looking at this as a cash flow play and would like to know if this neighbourhood has the potential for rental hikes around 3 to 5 percent in the next 5 years?

This deal was found through a wholesaler who has been very active with me and this property is potentially for sale.