Most states do not factor in losses from other states when calculating their taxable income.However, yon't think you lost out on the state where you have a loss. that state will normally treat that as a loss that you can use in the future when you sell the property or have rental income.

I guess I didn't really think about it but technically I'd be doing BRRRR since I really only want something I can rehab and have the option to just sell it if market drops or can't find a renter in my timeframe id hope to rent it in.

There are a few exceptions, like those well known/accepted areas like Beverly Hills or Palos Verdes Estates or those areas where every house within a 2 mile radius sells for over $5M.

What is your niche market where you have the most properties and the most business, people know you, and your trades and PM are close.If the owner ever wants to sell, I want your guarantee that you will refer the sale back to me. 

It's great to hear that Jeff Chisum and his team at Northpointe Bank were helpful in securing this for you.Adding Value: Your strategic patience and communication with the selling party to secure a deal at the right price is an excellent lesson in the importance of relationship-building and negotiation in real estate.Short-Term Rental Success: Achieving high ratings from guests is critical in the STR business.

For example:Flips - Purchase PriceFlips - Acquisition CostsFlips - Rehab CostsFlips - Holding CostsFlips - Selling Costs

Would be happy to compare notes if that's helpful but without more details hard to know what to say.Are you planning on doing finished pads that you will then sell to end users or something else?

I reached out to the owner and initially he wasn't interested in selling but i set a reminder in my calendar to reach out in exactly one year.

So if someone can demonstrate you had no intention to close (as, for example, by demonstrating you had no ABILITY to close) you have no interest, and nothing you can sell without brokering.But in any case, it remains true in many contexts that specific enabling legislation, and rules promulgated under it, is going to trump general provisions of the common law of contracts.  

As long as you are buying and selling the deal on the same day, with the same title company, transactional funding can be extremely cheap.