I finished my business plan finally recently.

Currently we are finalizing paperwork and figuring out what insurance we need and just trying to figure everything out all at once.

Well, once the title company/closing attorney puts together the final numbers for closing, they are being told that anything older than 7 years is forgiven.

Have been talking about getting into real estate investing for the last 2-3 years and finally pulled the trigger on a 3 unit house hack in Soulard that will be closing later this month and will be self-managing the property.I'm trying to network a bit with other investors, build a solid team of contractors / handymen, and set my systems up in way to scale, but also so my tenants have a good experience.

The final size of the house will be about 2500sqft, 5 bedrooms (each between 11x11 and 15x14), 2.5 or 3.5 bathrooms, in a strong A- neighborhood (600k-800k houses with amazing schools).

To set the stage, I'm owner of a short-term rental property in the Poconos in PA and we use a property management company for bookings, maintenance/cleaning, guest management, etc.This past weekend we had a guest booking but when the guests arrived Friday evening the house had no running water, though it had been running fine earlier in the day when the Property manager (PM) was at the house to give a final check and leave the welcome packet.

This year is probably already 80% booked for March.

Block out the dates of future bookings. 

Generally, a loss can only be claimed in the tax year when the investment becomes completely worthless or when there is a final determination that no further value will be recovered.If the REIT has officially liquidated, been declared insolvent, or issued a final report confirming that no additional distributions will be made, you may be able to claim the loss on your 2024 tax return.

Ryan,Most of the info you need to get started is "free" in books.