We knew we couldn't do anything until his lease expired but once we had a conversation with him, he kind of suggested he wanted to move out sooner, which was great news for us, and we said we wouldn't charge him fees if he broke the lease earlier.

What would you suggest if we both should be on the lease?

HIJust started new investor looking for investor friendly title company in the the area saw your post on bigger pocket just joined them as well I was wondering if you can send me your rep there thanking you in advanceps any words of wisdom you can provide in talking with them will mostly be appricated

I would suggest first looking into buying a 5 unit multifamily building, and then another the year after.

Any and all suggestions are appreciated. 

I'm sole broker from Rocklin area and I would suggest you to keep looking and when you find a good deal just grab it.

My W2 is higher than 200k and I own 2 rental properties “ one paid off and one with mortgage and I just found out that I can’t claim all real estate loss if it I exceeds 25k and my cpa suggest me to put one of my properties into LLC so I can claim 100% of my real estate loss. but my question is do I have to switch the deed to llc or I can just open an LLC under my name?

I suggest you get in touch with BP moderators/administrators to remove your post from the site because it wasn’t your intention to use the word “scam” regarding your transaction with @James Wise.

Can you folks suggest what can I do to offset this real estate gain of $40K per year?

Thanks for suggesting the book, @Todd Lennig!