@Norma E.

I'm looking at an O&E Report with a judgment on the lender from the city.

The Book on Rental Property Investing (A one-stop-shop for rental properties)All are available as e-books and audiobooks, which are slightly cheaper than the physical book option.

Then, you can deduct the interest in schedule E page 2 as debt was incurred to fun the contribution to LLC that conducts the business.

@Derek Diamond and @E BradyHi guys, thanks for the feedback!

Seems like a good way of getting some R/E knowledge in a low-stress way.

What I'm trying to get around is showing losses on my Schedule E due to rental depreciation and buying and renovating properties, which are being deducted appropriately as operating expenses.

Do I have to file something for each state even though My schedule E will show a paper loss and I have no other business in those states?  

@Mindy Jensen Look at the home that is facing that side of the house, it is most likely reflective sunlight from low E or high reflective windows in a building facing the home (or maybe your own home it is hard to see the layout.) 

We're a greedy bunch.Bob E's model where you create a 1st and a 2nd is something I've been considering to do myself recently.