clarification: when the property was purchased, tenant had preexisting lease which is scheduled to expire in a year to pay rent to the previous owner.

@Shital Thakkar - The short term leases and co-sharing seem like a full time job unless there was a great system in place.  

Taking a "loss" certainly has some nice tax benefits (especially if you have a decent W2 job), clear those with an accountant.

Mostly lenders will give you exception for property which is under 1 year rental history with 75%  rental income or from your schedule E. 

First of all, I want to preface my question with the fact that I am currently an accountant and have no intentions of quitting my job to become a real estate agent.

I use this term "business" loosely because most people become "owners of a new JOB" and not a business depending on how you operate it.

This buyer wants to do his first flip and has years of real estate development experience in his professional day job.

Is it possible to get into real estate investing without a stable job?

There are a couple of properties I'm interested in that are priced above my pre-approval amount and I'm not afraid to submit an offer based on what I can and am willing to spend, but the agent I'm working with feels it's a waste of her time to schedule a showing for a place outside my approval limit because "there's no way a seller would accept that offer."

Great job