If you want to build an expansive network of investors who want to work with you you should be ethical and licensed as it automatically gives you more credibility.

Additionally, it is recommended to consult with a legal professional to ensure that the provision is enforceable and compliant with all relevant laws and regulations.

I hope to expand my network and learn as much as possible here.

I use professional software, but I know a lot of people that use TransUnion Smart Move and are happy with it.

That is the jist, i would like to add to the responses above that even in the future if you qualify for real estate professional status, those losses cannot offset active income since in the year you generated the losses you were not real estate pro.

Hey Neisa,I feel like getting a network of investors in the area is really helpful!

Purchase price: $300,000 Cash invested: $85,000 Professionally remodeled home in the coveted Crescent Hill neighborhood!

Looking forward to what I will learn by networking with you all!

As a professional, I will be fine.

@Ran Fridman it's highly likely if you talk to a tax professional that they will advise against a cash-out refinance before you sell your property for an exchange.