Hi, if my wife becomes a real estate agent in New York (we live in NY) and we buy properties in other states such as Florida or Georgia, can we use segregated deductions on houses we buy outside of New York in order to pay less income taxes from my earnings?

Every day I wake up to look at Google News and there is at least one article about Foreclosure, or Fixed Income Tenant can't stay where they have been from before the Covid or the Widow who has lived in the 2/1 house for 50 years cannot pay the increases in Property Tax, Home Owner's Insurance, Lights, Water and everything else.

Studio that operates as a Short-Term Rental (STR) generating an average of $2,200 per month.Our ADU tenant has been leasing from us for the past 4 years, and we have maintained the rental rate without any increases.

(source)It also states this:  The following requirements must be met by taxpayers or RPEs to qualify for this safe harbor:*Separate books and records are maintained to reflect income and expenses for each rental real estate enterprise.

At that point, I'd rather just have a pre-built excel sheet I open once a year and type in my years'  expenses and income. 

Not necessarily to replace our income. 

Yeah if you are doing this just to generate some extra income with 1-2 units, the work-to-reward ratio is just not there.

Hey James, with a price range like that Columbus and Cleveland OH will be a standout choice, in these cities, your financial resources will go a long way enabling you to assemble a diverse multifamily portfolio and initiate a steady stream of income. 

An appraiser can use an SFR to help generate a comp.

Question is will this state income tax lien survive the foreclosure?