I may have a credit card with a $10M limit...but it doesn’t cost me a dime until I use it.I hope this helped.Stephen

My experience is limited but my wife and I are eager to learn.

For discharge income: If debt > FMV = there is a debt discharge incomeIf FMV > debt = There is no discharge incomeSo, there might be two taxable gain/income Normal capital rate gain or loss: If basis< deemed sale value (lower of the FMV or debt - as mentioned above)- there is a capital rate gain.

Given that, how can I take advantage from a tax perspective of losses on passive activity from owning rental properties?

This includes PAR and NAR fees. you may be able to find a board/broker that does not require PAR/NAR which could save about $300/year but would limit your other benefits.

& additionally with every transaction.I personally think this idea will work, as many individuals invested into the bitcoin scheme just recently, and now facing severe drops, the smart ones will move to take a loss in order to convert into tangible & stable assets.Share your thoughts & ideas on this.

I can also walk away with no loss if he doesnt accept to bring it down, correct?

I'm not sure how you are going to limit them to responsible borrowers only, but if you figure it out then you can probably just limit them from all forms of borrowing.

This is in Indianapolis not rural areas with limited Google Data. 

I am looking into either house hacking/ investing into rental properties as I am a college student with limited funds.