Dear Houston,I have seen posts on here asking questions about how we can benefit from your loss.

I am seriously considering getting my license for the obvious benefits.. however, I am not so much interested in being a full time agent for just anyone.

Here is a suggestion for real estate investors flippers using QuickBooks-You should have four main stages in QuickBooks as Class:- Leads- Rehab- Sold- Overhead expensesKeep track of each property expenses immaterial you buy or do not close the lead.As each property progresses in the stage, change the subclass of the property.

Hopefully others can benefit from our story as well~Looking forward to our interactions!

Taking a "loss" certainly has some nice tax benefits (especially if you have a decent W2 job), clear those with an accountant.

Main issue is it stays with the property.

I am hopeful that I will start doing more here before the year is out but the main reason I got it was for my personal use.

There are so many benefits and drawbacks to investing in your local market and just as many benefits and drawbacks to investing in a ton of different places in the US.I think to help limit the context of this conversation, you may want to quantify some of the variables of this question, to help aim answers.For example:1. 

The actual house and the lot next door is commercial option also as it sits on Main Street (route 30) in Manchester.

This is only intended to give you a guideline to direct your conversation with these individuals.Incorporate an LLC with S-Corp designation that will be your main business.