I am considering buying another rental in my name that will generate a loss but will help me build equity and reduce my taxes.

One of your biggest challenges will be separating all the online fluff from reality.EXAMPLE: several S8 "gurus" have already been exposed as frauds, but unfortunately, they sucked in thousands of investors.You're an engineer, use your education & experience to start building up a logical approach to investing in rentals:)Start with this:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

High standards and ethical practices will build your reputation.Shifting your mindset to treating real estate investing as a serious business is fundamental to success.

High standards and ethical practices will build your reputation.Shifting your mindset to treating real estate investing as a serious business is fundamental to success.

High standards and ethical practices will build your reputation.Shifting your mindset to treating real estate investing as a serious business is fundamental to success.

Furnishings, such as the $35,000 you spent on furnishings, would generally be considered personal property rather than real property and would not be included in the cost of the property.In a cost segregation study, the goal is to identify and classify the various components of a property as either real property (land and buildings) or personal property (furnishings, equipment, etc.).

Theoretically, yes.While it is not entirely impossible, for most people the more likely path to success is to build the skills necessary with a couple duplxes. 

With funnels, always start with the end goal and reverse engineer it - if you do it the other way around you'll most likely build a lot of fancy, unnecessary clutter, which we don't want.What kind of leads are you going after and what's your main objective?

Hi LuckyI'm interested in multifamily building.

Looking to connect with folks familiar with these areas or similar.Pittsburgh is a good market with good cash flow however the buildings are older so there will be a decent amount of maintenance over time.