Best to talk the tax issue over with a CPA but the loss will be reflected in the K-1's and can offset gains in other deals, provided they both flow through to the same entity (or you personally).

@Alex Clark James Wise will be your guy for this area; looks like he already provided a guidebook for Cleveland.    

If anyone could provide contacts in the Buffalo area that would be great! 

@Chris Seveney hits the nail on the head, you don't need concrete "legal proof" to provide to a realtor when submitting such offers.

Don't know anything about this course or provider, but be very careful with any general courses.   

This property is in Phoenix, AZ.Thank you so much for any assistance you can provide!

Whether it is understanding their K1, where to find information or forms or just to provide an update. 

Add this in.3) Provide a tax shelter.

I don't know where they get their numbers and I asked my rep and he said they do their own data analysis...so make sure and do your own research on the numbers they provide. 

The $50k cash flow by itself does not provide the full picture.If you are making $50k cash flow on a highly leveraged property, you should definitely repeat the process and hope to achieve similar results.