The other CPA says we have to spread it $3,000 a year until we reach the loss total or against any capital gains. 

Sold home(2) that I inherited, I'm in Texas, i don't qualify for capital gains tax as I already have a primary home(1).

I have never felt that selling our places would be to our advantage because I just expected it to become relatively simple passive income once paid off. 

Hey  I found a motivated seller fsbo thats also a investor she really is nice and I have gained her trust and don't want to lose it, i told her my wife and myself is interested in purchasing her home, although i have not told her that we are investors as well and we are doing it virtually for the most part, moving forward to get this property under contract do i mentioned we are investors or where do I go from here.   

Plus any equity buildup you’ve gained by paying on the current mortgage.

Work to rebound, gain some success and revisit the hellcat ( probably demon at that point). 

Our goal is to get out of the corporate “rat race” and live off of passive income, while enjoying time with our family.

So it looks like there is no way to gain access to MLS without being a licensed broker or working directly for them?

Because dont get me wrong I actually love my "JOB" but thats just it i dont want a "job" any more and again i love what i do and have always done but im looking to whole heartedly do my own rehabs and wholesale deals and all ive been doing is gaining knowledge every day i study something read and listen to everything that can help me with my goal of gaining Financial freedom and so its now time to implement , Its now time to get ready to get out there and locate these deals and i know they are out there how ever i here some people say to get your llc first, and i here others say you dont need that till later, so really what do i do ?

- If you want to live in one unit I would not get an LLC because you'll lose your homestead exemption and your capital gains exemption when you sell.