If the taxpayer materially participates in each rental real estate activity, his/her losses are fully deductible, and the $150k threshold no longer applies.It sounds like you are familiar with the test, but I will restate it her for the sake of completion.At least 1/2 of personal services in all businesses for the year must be performed in a real property trade or business and rental real estate.The taxpayer must spend more than 750 hours in real property businesses and rentals in which he/she materially participates.Both must be satisfied.  

I had a great teacher "ShawnyMac" Sean McNeil (spellcheck on his correct name spelling)  I learned a lot in those 3 days and yes they do have a coaching and education program called Mastery that truly helps their students learn.  

with all the colleges there, you may want to consider student rentals, where you rent out bedroom space.

It may also be used by some lenders for other credit product application evaluations (such as credit cards, personal loans, retail credit, student loans, etc.)."

Just bought a rooming house in DeKalb (Student Housing- Northern Illinois University) cash flows like crazy just not my typical rental. 

Water/Sewer are covered by the tenants, garbage by the landlord. 100% occupancy (which is reasonable for the location of the park.)I was a credit analyst for years and was the primary analyst on a few participating loans.

Okay i just started a new job 42k salary starting out hopefully land a analyst job 50k+ soon but for now i have 775 credit score i have 140k cash but only wanna use max 30k, i owe 0 student debt i own a business as well for 2nd income. my monthly expenses is $350 a month.

I'm a medical student full-time and have been active in real estate investing for over a year now (did 4 flips last year).

The unit would most likely end up being rented to college students. here are the details:Unit 1: 4/3Unit 2: 2/1Unit 3: 2/1Current rent roll is $2500Estimated expenses including vacancy(5%) maintenance(10%) and capex(5%) are: $2300If possible I would like to roll in PM if the math makes senseA few details I think make a huge difference:1 meter on the house, so utilities are included in the rents2 HVAC units, 1 is for the 4/3 and the other is for the other unitsPorch needs some minor structural repairs.The house needs interior paint, and some minor repairsShe hasn't raised rents in 6 years, and I know they are extremely undervalued.

If you can only afford a single family house, buy it within a mile of a large college and rent out the rooms to students with jobs.