Here's some advice to consider as you begin your journey:Educate Yourself: Take the time to learn about different real estate investment strategies, including BRRRR (Buy, Rehab, Rent, Refinance, Repeat) and turnkey properties.

This is where you report negative income amounts, including NOLs.Calculate the NOL Deduction: The NOL deduction allows you to carry the loss forward to future tax years to offset taxable income.

Include cost estimates for materials and labor.

Some states have licensure requirements for private lenders including California, Oregon, Idaho, Nevada, Arizona, Virginia, Florida, the Dakotas, Vermont... that may not be an inclusive list.

I'm a realtor who have had his license for since 2019, but haven't bought or sold a property for anyone yet. My license has been inactive all this time so I could pursue a chemistry degree. I earned the degree and I a...

Does that number include tax, insurance? 

There is a community over there wanting to build up a boardwalk similar to New Jersey and return North Beach to it's prime (I think it had a boardwalk in 1915 before a hurricane).It has a lot of work to be done but it's in a good spot to downtown, right near the highway so easy to access and get to places all over the city whether you are going to the island for spring break or the university to visit college students it's a short drive.The area it self could be better but I think it has a lot of potential.

Hypothetically, I could sell all my rentals and put the equity into something different, such as an RV Park/storage, self-storage, mulit-family, mid-term rentals . . .Bottom line, I would love any advice anyone has to offer. 

I own and self manage two short term vacation rentals. 

These expenses in-clude the travel costs of getting to and from your business destination and any business-related expenses at your business destinationplease please tell me how I am wrong.