@Adam HutchisonI have started investing in the Davenport, IA, area in the last year.

Real Estate is my passion, and I am excited about transitioning into a fulfilling career after the last three years of working solely for a paycheck.Appreciate your input.

If you have been renting it, you will be building up Passive Allowed Losses (PAL) that will help offset the tax gain.But, sounds like you haven't been renting. 

Studying Zillow over the last month, single story 4-plex are rare to find in the TX markets I've been searching & analyzing.

Personally, I think the partnership should minimize the loss and be transparent with their investors.

A cost segregation study may allow you to deduct $150k in depreciation expense in the tax year of acquisition.This would create a large tax loss (notably different than an actual operating loss).

In the texts he told me he was moving to Minn and when I last saw him he appeared sick but when I asked how he was doing he just said awful and didn't want to talk about it.

@Pramod MahadevanI'm in Lake Tahoe Nevada and this has become an issue with many larger and smaller condo complexes because of the multiple insurance claims from snow damage last year the insurance companies were dropping policies or charging crazy prices. 

On the more creative side, find out where they were living last.

Last week I had a duplex in Iowa destroyed by fire.