To qualify, you must meet material participation rules (100+ hours and more than anyone else) so that rental losses can offset active income.

How are they sourcing materials?  

- Run a cost segregation study on this property in 2024 and you might have $100k on line 18...Without diving too deep on this post - If you run this scenario as a real estate professional while materially participating in the property, You'll be able to reduce your's and your spouses taxable income that year... 

You can break it out by general RE activities and material participation.

@John Zhang If your wife qualifies for Real Estate Professional Status (REPS) and materially participates in managing rental properties, there is no limit on the amount of rental losses, including depreciation, that can offset your W-2 income.

Material Misrepresentations: Norada Capital Management's misleading claims include:a.

Any recommended reading materials, please. 

The first images of his website did not focus on real estate investments, but materialism. 

Sounds like you need to have a relationship with a couple of good contractors, 40k for vinyl siding sounds high, what was the material cost.  

I'd budget 30k. framing labor in ohio is about $7-$8 per sq ft and materials about the same.