Cover the cloth with plastic wrap, weighting it with a book if necessary.

This would allow them to take real estate losses against their earned income.

That only lasted 3 years.

I'm working with an accountant and I'm a little annoyed because I'd like to understand how the carry-forward suspended losses is calculated and I'm not getting a clear answer.

We were lucky to help 3 veterans last year with their first home purchase using a VA loan.

Since it is a single member LLC, your bottom line LLC profit or loss will flow through to your personal return.

My business partner and I bought our first investment property (4-Plex) last year.

That only lasted 3 years.

On a note, your return is an interest %, but on a split, you share in the losses as well. 

Last year, a few months after purchasing my primary residence, I took the leap and bought my first flip.While leverage knowledge from books, podcasts, talking to peers at meetups, Facebook groups, I connected with a great contractor, real estate agents, and subcontractors.