I do know that if you're not a RE professional and even if you're actively managing your real estate assets you will not be able to write off any of your passive losses from your rental real estate when you're over 150k AGI (you mentioned you were 190k AGI - prior to itemized deductions and exemptions).Also the other thing is that when accountants go to create your depreciation schedule they dont take the 1.75M and divided it over 27.5 years.They typically (other wise proven via engineering study or cost seg report) use the LA/ventura county tax assessors value for land and improvement(building) and they take that percentage on the assessors website and apply it to your 1.75M sales or acquisition price to determine your depreciable basis.So for example, if the improvement was 80% of 1.75M then you have a depreciable basis of $ 1,400,000 / 27.5 years = $ 50,909.10 annual write off.Back to the above REpro, if you're not a REpro, you wouldnt be able to write off anything against your active/earned income and you feel the full brunt of the tax man unfortunately.

I am interested in meeting anyone who is willing to help me on my journey and welcome any suggestions on here as well as via my inbox.Hope this intro, isn't too long.  

See below. 1) Properties with high equality2) Code Violations (Closed violations for lawn care/landscaping)3) Tax Delinquent (Tax Lien)4) Garage Sales (via Craigslist.com)5) Listsource.com6) Inheritance (USleadlist.com) 7) Pre-Probate8) Probate9) FIndmotivatedsellers.com (Subscription site)10) Arrest records listMy interpretation of that show is that you focus on one of these list and master them to generate leads, until you can grow and expand your business.

Hello -Like many others here (apparently), I am brand new to BP and recently stumbled across it via the podcast.Long story short - I have a full time job but don't particularly like working 40 hours/week nor do I particularly like working under someone.To that end, I began to consider real estate investing as a means to alter my life.

Hey Team -A little bit of background here is that I currently have 4 rentals in Sacramento and 2 in Houston as well as completing flips but have now decided to venture into apartment complexes.Just had an offer accepted and am now trying to piece the process together as it's a bit different from what's needed from the SFR side.Some details about the purchase thus far:Purchase Price - $771,000Gross Current Rents - $8,400Potential Income - $10,200Here's what I'm asking for:Rent rollLeases for all units Profit and loss statement Operating income + expensesUtility billsMy thoughts process-wise:Receive/confirm the income + expensesConfirm condition via a property inspectionIf all checks out - complete the purchaseAside from some moral support from the BP team, my ask is if - at a high-level - I'm missing any other points?  

No, definitely wouldn't pay $1500k for a stove.The question is how to increase the property value via remodeling/value add? 

@Rick Via  I preface this with, I am not  a lawyer and this isn't legal advice.But my understanding is in Texas you have to have separate accounts for deposits if you are a property manager, realtor etc. 

As a property manager a lot of our out of state owners fund us via Lead Aggregators such as Thumbtack or All Property Management.

There simply isn't enough to go off of at this point in order to make the claim of interest only via amortized as Melissa mentioned above.

I am a Surveyor by trade, and have done a little bit of everything from title abstract, boundaries, and oil & gas work.