I think I may need a mentor or some guidance in how to generate clients and actually close on these mortgage loans.

@Amy Hu I am in the same boat as you, no passive losses because my income is too high. 

I just wanted to add that after you recover all the money to start over, during the final "R" you are also generating some income from the third "R".

Let's break down the numbers for the multifamily property you're considering in Chicago:The multifamily property in Chicago is a potential investment opportunity with a purchase price of $580,000 and a monthly rental income of $4,200.

What you need is to shock treat the house with a commercial grade ozone generating machine.

Quote from @Robert Rixer:  Have you heard of the installment method of income tax accounting.?

I have around $15,000 in the bank which could afford a 3.5% down-payment, but closing costs and the first few months rent could be a stretch as my job hasn't started yet (The home would still be under construction so its possible I could achieve W2 income before actually paying a mortgage?).

This creates opportunities for short-term vacation rentals, potentially yielding high rental income during peak seasons.3.

I'm currently living down here but all my financials (assets, bank accounts, income, tax filings, etc) are in the US.

Do I have multiple exit strategies or avenues to generate income?