If W2 income was $300k and losses are now $130k…we can write those losses off against the $300k making taxable income -$170k.

This can provide additional liability coverage beyond what your regular property insurance offers.Steps to Consider:Speak with Legal and Financial Experts: Prior to making a choice, get advice from a tax and real estate lawyer.

Being an introvert and trying to help other people navigate a conference is not cringe, it's helpful for those who get overwhelmed by trying to do small talk.I will bark up this tree every day so let's have a regular conversation on Zoom so I can see what you got and everyone else can too.

It can also be used to track various sources of rental income to help you manage your cash flow.How to get it: Goodbudget is available from the App Store for iOS devices and Google Play for Android devices.Cost: Goodbudget offers a free plan with 10 regular envelopes, 10 “more” envelopes, one year of history, and debt tracking.

Hello @Vinay Sanapala,I recommend listening to the excellent comments from: @James Wise, @Drew Sygit, @Jay Hinrichs, and @Mark Cruse.I regularly read people claiming that Section 8 is free money and guaranteed.

This would allow you to deduct the $11,000 immediately in 2023, reducing taxable income for this year.

Once the rehab is complete, the loan just converts into a regular mortgage, so no need to refinance and no second set of closing costs.As mentioned above, you haven't posted a ton of other details, so there may be a lot of variables, but I did a deal as a buyer in this fashion in the past.

There may also be costs associated with setting up the accounting for the shells, and preparing inital shell formation meeting minutes, etc...You will also need separate bank accounts, and a war chest of money to defend them if/when needed.Ask your asset protection attorney vs salesperson for a quote on the cost to defend, and how much it will cost to move title to the shells.Find out if moving the title creates a taxable event for you with the IRS re.

I also read daily and attend RE investor training courses regularly. 

@Ben StanleyGet liquid first start by saving money in a taxable account