The sale will be in Hungarian forint.

If not, even though you are a re pro, losses are passive & deductions are limited.There are 7 scenarios that will qualify as material, and you only need to meet one:*500 hours*Substantially all participation*> 100 hrs and at least 1/2*Significant participation*5/10 years*Personal service activity w participation in last 3 years*Continuous participationTo materially participate, you must be involved in the operations of the activity on a regular, continuous, and substantial basis.Once you pass the pro test, the material participation often comes along for the ride.You can elect to aggregate all rental real estate for purposes of measuring material participation under Sec. 1.469-9(g).Your time spent on all your rental properties (STRs don't qualify) counts as one activity, making it easier to materially participate.In order to make a strong case with your CPA and the IRS you need to document your hours.Best practice is an hours log where you are as specific as possible.

This stabilization period is expected to be short-lived, creating a window for strategic investments.

It would be fantastic to exchange advice, share our experiences, and help each other succeed.

Yeah, treat the property well, make it nice, and you won't have any issues there.

Even if the tenant can’t pay, it sets the expectation and documents the issue.Small Claims Court: If the tenant refuses to pay, you could take them to small claims court, where you can seek repayment without needing a lawyer.Security Deposit: If the tenant has a deposit, apply it toward the damages.Consider Eviction: Given the arrears and damage, eviction might be a last resort to prevent future losses.Talk with your property manager to create a plan that minimizes further risk.

If so, what would be the best category and cities to start in for real estate? 

I suspect if I am impacted, thousands will be and help will be forthcoming.

Hey guys, late to the party, but I'm heavily involved in investment real estate as a Broker Associate and investor in Fredericksburg, TX as well as our second home in Natchez, MS.

Any insight on this topic will be appreciated.