We've been active in the short sale market in Florida.

Depending on the place being a new landlord isn't a passive activity at all.True you might be getting 1% or less in a CD or bank account now and you don't get depreciation like with real estate but you can easily beat those numbers.If you have a few hundred k or more I would say triple net it a great route as you can hit a 6% to 10% cap and not do anything but collect a check.

You can fill bowls with vinegar or activated charcoal and place them in closed off rooms.

Welcome to BP Nation, stay active on the site and engage the community.

I would encourage you to stay active in the BP community, there is a wealth of free knowledge, many helpful members, and contacts to be made.

My favorite part is when they start going through the house and just automatically start tallying up all the upgrades at face value to their bottomline...Its so realistic to just assume you will be able to ask (and get) more for your home (despite the comps) just because of some travertine floors and bullnose sheetrock...What a joke...

From what I can tell there is a healthy amount of buying activity, foreclosure rate seems to be slowing a bit as well.

Go to http://aaplonline.com/aapl-active-lender-directory/.

All 3 people would be active in the rehab.Anyone ever done it?

The remaining expenses carryover to the future as a Passive Activity Loss (PAL).Exception:If you qualify as a real estate professional, you are able to deduct more than the 25k allowance and are able to deduct passive real estate losses if you AGI exceeds 150k.Chris Masons, That is why I'm the Tax Guy.