Hello friends,Does anybody who had experience with Live and Flip consider that as a business for tax purposes? 

I've already invested in a duplex in NJ (I'm renting it to two families and managing it) and a single family in MI (living in it).

We're aiming to live in a property between San Mateo and San Jose that could use some TLC and fixing it up with some sweat equity.We'll be living within the area for the foreseeable future and I'd love to begin networking with other investors!

so a lot of what ifs.. but if it was me and your going to live there and you know for sure the other lot will perc and maybe you guys share a well. 

I currently live in Austin, TX in a home that I’ll be renting out in the next month or two when I relocate to Nashville for work.

. $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%.

You want to live in the smallest unit so you don't have to room hack an even unit and so you an cash flow more on the other side.

I assume the "caretaker" is living for free?

I bought it for 600k in 2002, and lived in it as my primary residence.

Though I have catering experience and my wife has assisted living experience.