Eventually when the property sells, you will have long-term UBIT, which is about 20%, and remember the carry forward loss capability.

They are tradesmen not investors so remember that when they dole out advice.  

Remember, the notion of amassing wealth without investing is a dangerous myth perpetuated by self-proclaimed experts.

I remember when I was starting out, deal analysis felt like trying to solve a complex puzzle without all the pieces.

That is a quick climb especially when people still remember sub 3 just a few years ago

Remember, this is really PERSONAL debt as you didn't use the HELOC for investing.

I can't remember how many times I was "cooled off" and I was honestly surprised when they asked me to be a Mod.

I remember when my buddy Mike went through a rough patch..divorce, bad investments, you name it.

As a result, I wouldn’t need to show material participation for each property individually, and I could potentially use the losses from these deals to offset other income.Even though I qualify as a real estate professional, it’s important to remember that active participation is still required to use those losses against W-2 income.

While that's true, what I truly remember is the people we were able to help.