Unlimited losses allowed for landlords who qualify for REPS - Real Estate Professional status.

I've been operating a Turo biz under an LLC for the last 2 years and have recently decided to cease operations (For those not familiar with Turo, think of it as the Airbnb of car rentals).I was wondering if it is possible to begin operating my real estate biz under this existing LLC?

Let me know if you have any questions.

I'm an educator, a personal caocher and business advisor and since my kids has grown up 10 years ago I started doing real estae in Israel, where I live.A few years ago we went into some 3rd party investments in the USA, as part of an LLC group of investors- one in Manhattan and one in Atlanta.Based on the experince I have with those market (as well as Newtom MA, where I lived for 3 years) I lately decided to choose Milwaukee as my next market, focusing at the moment on single family houses.I'm looking into 3/2 single familiy houses to buy and will be happy to work with local agents and build a team.

If everyone is truly active, it is now a joint venture and you can have a local real estate attorney form an LLC for you (which is much less expensive).

An S-Corp could help save on taxes if your income's high, but it’s worth chatting with a real estate-savvy CPA to get the best strategy.

I’ve seen firsthand how being plugged into a strong local network can help you find off-market deals or avoid costly repairs.PS: Did you know Cleveland’s real estate market has some of the most affordable properties compared to other major metros in the US?

I have another real estate agent who suggested I look into land banks with my city.

I recommend that you speak with several realtors that are familiar with the neighborhood or have sold properties in the neighborhood to answer your questions. 

Lending attorneys are not the same as real estate attorneys.