Your ability to offset ordinary income with passive losses is often touted as a benefit, especially by those hawking junk deals, but is in fact very limited.Just like playing a slot machine, its entirely possible to set down and play a few minutes and win a nice jackpot.

Additionally I noticed that the lock on the machine was broken and the tenants were over-riding the coin slot and turning the machine manually.

There is a casino/hotel there (Northern Quest) that has been going strong for 18 years or so (maybe longer and I just wasn't aware of it earlier than that).

My area has seen a slight boost from casino gambling and the future of nanotechnology. 

Depending on how adventurous you want to be, you can check out Pigtown which is right next to the casino and the stadium. 

I graduate from the University of Oklahoma in 2012.I'm currently at Southern Nazarene University working on my MBA-Healthcare.I work full time at Riverwind Casino as the 1st aid personnel. 

I was a Casino Dealer for 8 years.

@Yasir LillingstonLook up Ed Slot CPA who has large network of IRA CPAs all over the country.

Ottumwa is a big meat packing town, Fairfield is small college town, Riverside has a casino, Amana/Kalona are Amish areas.Biggest issues in that area I would think would be proximity to jobs and meth.  

@Cliff Mccue I've talked to quite abit of investors I know down in chicago, and alot of people aren't pulling permits, obviously I'm basically a virgin when it comes to the bylaws in Chicago, but I know in Canada, if you do work without a permit, depending on your area you might as well just drive by a casino and throw  $30,000 out the window.