If you are in the very beginning of this, I would highly recommend hashing out the items listed above and then become OBSESSED with learning as much as you can, networking, and following your curiosity to something that has a lot of interest.It looks like you may have interest in flipping, so if you have anyone in your network that does real estate and may have the skinny on certain areas, it may be worth it to focus on that area as you begin gaining experience.

And important that you gain their trust and respect during this time.THE FOURTH MONTH - THE COMFORT PHASE:The Fourth Month through the first year is THE COMFORT PHASE: the tenant becomes accustomed to your rules and is starting to feel comfortable.

The other CPA says we have to spread it $3,000 a year until we reach the loss total or against any capital gains. 

Sold home(2) that I inherited, I'm in Texas, i don't qualify for capital gains tax as I already have a primary home(1).

If I didn’t need the money I would tend to hold, not for the cash flow but just because an asset in SD is so valuable and hard to buy again, long term it will likely continue to appreciate.

Hey  I found a motivated seller fsbo thats also a investor she really is nice and I have gained her trust and don't want to lose it, i told her my wife and myself is interested in purchasing her home, although i have not told her that we are investors as well and we are doing it virtually for the most part, moving forward to get this property under contract do i mentioned we are investors or where do I go from here.   

Plus any equity buildup you’ve gained by paying on the current mortgage.

Work to rebound, gain some success and revisit the hellcat ( probably demon at that point). 

I always pay attention whenever I see you post something on a comment I make or on other BP members posts because I've picked up some valuable nuggets from your input.  

I'm not saying his effort wasn't wasted or isn't valuable, but I'm curious how you would value that.