You likely won't be able to offset the rental loss with your W-2 income unless you can claim real estate professional status or operate it as a STR and self-manage it.The answer won't change even if you own the property inside of an LLC.Best of luck.

It's much cheaper to pay a professional that keeps you out of trouble than it is to pay an attorney to fix the problem.

, what made you feel secure taking the leap with hard money and going after that first flip.Partnering with an investor or doing seller financing would be ideal, but I'm still growing my network by cold calling other investors and real estate agents and attending local events.

Please feel free to reach out with any questions you may have.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

These are some questions that, despite having read a few books about, I still feel confused about, and find myself unsure how to proceed.

Wow, thanks for all the amazing tips, especially for Judy Martinez's professional advice and detailed roadmap!!!

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

If anyone has any good leads on businesses they recommend for the fence (temp fence with windscreen bc its Chicago, sandbags) and porta-potty, please feel free to share your sources.

That is my guess, but I am not a tax professional so do consult your CPA as this is just my opinion/guess.