There has been a run on gas and food, and schools are closed for the week. 

The more you know, the more prepared you’ll be.2.Find Your Strategy: Real estate offers multiple paths—flipping homes, building rental portfolios, commercial investing, etc.

I recommend he look for a property manager who can figure this out and stop the bleeding, then maybe take over management in a year or two when he's better prepared.

Prior-year losses can’t offset W-2 income but can be used for capital gains or future rental income.For audit risk, high earners using REPS face increased scrutiny, so be prepared with detailed records.For material participation, keep a time log with tasks, dates, and hours spent on rental activities like tenant management, repairs, and bookkeeping.

I can live happily with just a bed, food, and my laptop! 

Navigating regulations and managing properties can be complex, but with the right preparation, you can find success in this dynamic landscape.Also, Colorado is such a beautiful state that it would be a shame for you to move out of it!

So yes, to answer your question, I’m well prepared for whatever I get myself involved in.

Just be prepared for winter if you are moving from a warm climate.

Natural to be nervous, but you need to embrace that.If location is truly great, learn to optimize the cash flow or be prepared to weather a minor cash flow storm.

Housing is a very important bill for many families to pay, but it still comes behind food.