There will likely be a partnership return required where you flipped a house with a partner and lost $120,000.If you sold the other property within the same partnership, it will also be reported on that partnership return.The net result to you is that you will receive a K-1 showing your income / loss which you then use to report on your individual return.If you made no money within the same year, you likely pay no additional taxes / get no additional refund.Best of luck.

Finally, what’s the rate of return for alternative investments? 

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.

The results might surprise you.

The actual cost of the turn is $2,843.17 but the security deposit returned to you is $1,650 (may change slightly on finalized intent to claim proceedings.) 

But I always leave the final decision to them so I'm not liable for their decisions. 

Short-term rentals are becoming oversaturated in certain markets plus anti-STR legislation is resulting in some of those properties also converting to long-term rentals.You already have the operations experience by self-managing.

From personal experience, this can motivate them to do a final deep clean before handing over the keys.Finally, for peace of mind, you might consider consulting a local real estate attorney.

I went through this whole process recently of researching for Real Estate CPA and finally went with referral from friend that also invests in real estate. 

Finally, the compact size of tiny homes often results in lower utility costs, further enhancing their affordability and sustainability.