Lets just say that $50K has been carrying in losses from this particular property, this means (according to my CPA) that I can only offset $50K from the capital gain of the sale of this one property.

This is where your attorney would have great insight into your pros and cons of doing each setup

I just wanted to ask the community whether this is a strategy people are thinking about and I am curious about how veterans have taken advantage of opportunities like this in the past.

Start by reading the Ultimate Real Estate Investing Guide: https://www.biggerpockets.com/guides/ultimate-real-estate-investing-guide/introduction2.

Taking action before you know anything is going to real estate investing meetups, asking smart questions in the forums, building relationships, reading books, and listening to podcasts.

My reason for this post is to hopefully find a mentor to work with to get me started on this adventure into the real estate world.

An asset protection plan is an excellent start but so many layers to this question.  

Is this a novation, sub-to, or some other creative finance deal?

You got this!

Following up on this thread!