It excludes mold and has a water limit which I’m worried about.

I have a meeting set for next week with an RE attorney but want to have an idea about my financing options both short term and long term.

Unfortunately reality quickly set in when we contracted an engineering firm to start the septic and wastewater plan. 

A google search will turn up a number of firms that can help you and have tutorials explaining more about them and the details to set them up for you.

Are you set on investing with the long term strategy or are you also open to short term? 

Normally (yeah, bunch of income limits), passive losses can't be taken onto your main return, but are carried over year over year until you have net passive income to offset.  

Particularly be sure to include your goals for real estate investing so that folks can help you. 2) Follow your favorite forum topics and set up keyword alerts!

Just wanted to throw that out there as I noticed it hadn’t been mentioned.To answer your question directly, no you do not have to actively manage a property to use bonus depreciation (or Section 179 depreciation), but you may be subjected to Passive Activity Loss Limitations if you generate a net loss.

I currently have a house 3 bed 2 bath in one of the best neighborhoods in Cincinnati. I paid 325k for it with 5% down in June 2023. Comps for this house fixed up are now trading in the 5's.. My mortgage is 2.8k and it...

I made 120k in equity last year with the sale of the houses but because of how stupidly our business was set up, Our tax guy suggested my partners give me most of my equity as a gift because we didn't want to get taxed on it twice.