You may be able to work a sub2 deal if you're not married to wholesaling.

It can be from a college that is paid for by the 9/11 GI Bill (tuition and housing allowance covered) or begin the real life stuff (ex. agent or contractor). get a hold on your spending habits, otherwise you may marry the love of your life and hers and your spending habits will doom both of you (a potential mate that doesn't have or won't develop good defensive wealth building tactics will become very unattractive)" That's what I'd tell myself, and will tell my kids if they want old pappy's advice.

If your Modified Adjusted Gross Income (MAGI) is below certain thresholds ($150k if married filing jointly) then you can write off a certain amount of your passive losses against your ordinary income.

The Best Advice I ever Received – Paying it ForwardSome of the best advice I’ve ever received has not come from expensive seminars or real estate guru’s trying to sell me something.Instead, it has come from experienced investors who were willing to share with me what they had learned.I see many of the questions in the forums that I had when I first got, so in the spirit of paying it forward, let me share with anyone who is interested what some of those friendly pieces of advice were.If you have experience maybe you’ll chime in and add some of the more valuable tips or advice that you received when you first got started.Give it time – Everyone has dollar signs in their eyes when they first get started.Fortunately for me, someone recommended I give the business 5 years before I decided if I could make it work.I shared that plan with another investor who had been in the business for 30+ years and he suggested I give it 10 years.He didn’t explain why, but after 10 years I’ve seen the difference.At five you are just beginning to understand the business.Even at ten years, you’re not an expert.However, after ten years I find that I have enough experienced contacts in the business to solve just about any problem I encounter.I also find that it the time has helped to build a network of investors who trust me.People invest in you, not your deal – Just about everyone wants to know where the money will come from to get started in the business, unless you’re a trust fund baby.The rest of us have to save up funds or partner with other people who have the funds.You may think you have the greatest deal in the world, but no one wants to be a part of it or their terms are outrageous.It all boils down to trust.If people trust you, they will invest in and with you.If they don’t, they won’t.It’s just that simple.Unfortunately, this is momentum thing and will require that people get to know you and trust you.It’s like getting married.Most of us would not want to marry someone we just met last week.The same is true with investors.If you find a deal, the money will be there – This follows #2.If you truly have a deal, then experienced investors will recognize the deal and want to be a part of it.If they don’t, then heed their advice if they don’t feel it’s a deal.If you’re new, you’ll probably have to share a large percentage of your profits with them as they get to know you better.After a few successful deals, you’ll find money will be easier to find and you won’t have to give up as much equity.Stop spending money on expensive seminars and spend your money on marketing – I didn’t personally receive this advice, but I was party to a conversation with a newbie and an investor with over 200 homes.The newbie wanted to know if such and such guru was a good teacher.The experienced investor’s response was, “Stop going to seminars and take than money and instead invest in marketing.

In our case, we generated investment capital by selling my bachelor pad (a condo I owned) after I got married, and my brother’s house (after he relocated).

The committed ones always got me as they were all married.

You need a place to live and I bet your mortgage isn't a whole lot more than rent in Encinitas and after principal paydown and write-offs, it's probably less.In general, I believe you should almost always own your own home and especially with rates so low I'd lock in long-term financing.Another thing to consider on buying a personal residence is that you get 250k if single and 500k if married tax-free if you live there 2 of the last 5 years, the tax savings itself can make your payments for you or offset years of negative (which you won't have)Here are a few questions to ask yourself.Do you want to live in Encinitas?

Married about 2 years ago and moved in home with wife who already owns her house outright.  

So, if an heir needed to sell right away, there probably won't be a capital gain.Also, a single person ($250,000) or a married couple ($500,000) receives a capital gain exemption when selling.

Are you married / do you have kids?