You likely can't tap into your equity without selling your property currently due to your credit and being in an active bankruptcy.

Either way, the fire has been lit and we are actively getting involved in the REI world and meeting other investors and are ready to just get in the game.

I have heard people going on Medicare since they have no active income.

(I saw the possible thought of just expanding the one you have, but if you wanted to explore the possibility of buying fixing and selling, you may have a lot more opportunities of finding financing or JV partners to do it with you). 2.

Looking forward to hear from local investors.I have been an active Investor in Greater Seattle area, but now want to diversify.

Also, CamaPlan is very active on Bigger Pockets and have good reviews.

This trade or business requirement can be particularly difficult for rental properties to meet and is usually based on the extent of the taxpayer's involvement in the rental activity.

Given that, how can I take advantage from a tax perspective of losses on passive activity from owning rental properties?

@Maxton JohnsonIt really depends on what real estate activity you are trying to be involved in.It also depends on what your goals are.It is true that for a NY LLC to be established that it needs to have its information placed in 2 ads for 6 weeks.

Since you'd prefer to be MLS only vs. an active realtor your broker might require some compensation too.