If the business is showing a profit or loss, then that income will be adding or subtracted from the entire income. 

I believe it tends to give me a slightly lower return, because the sponsor is going to be more careful, and if there is a severe downturn will prevent me from taking catastrophic losses.

I saw a prior post where you mentioned having a STR in Texas.you want to have a conversation with your accountant to see if it can be treated as an active property instead of passive.If it can be, then there is a potential opportunity to offset the losses against other forms of income such as wages, interest and dividends.

The loss reported on your K1 is likely considered a passive loss unless you materially participate in the syndication.

stacks of capital for unexpeeccted repairs, zoning, headaces you simply can NOT forse e until it happens, and 6 months of the mortgage in reserves for vacancy/ job loss. 50k an d8k in credit is mayb safe to by 1 property. that 38k you think is left, not nearly that will be left over. so what is leeft..... theere are your reserve. you have noting left to get another property

@William Coet, as Jackson noted, there are too many variables to even begin.Two things to remember, any tax losses you utilize to offset incomes, will reduce basis making bigger tax bill in sale year.  

I'm self employed, no other "job"I have STR insurance policies that show a line item for Loss of Business Income.

Vacancies mean a loss of income and increased expenses.

He talks about how you can purchase a rental property, manage it as a short term rental during the year you acquire it, do a cost segregation study, use those "losses" to significantly reduce your taxable income that year, and then turn the property into a long term rental in the following year. 

This holistic view can also help prevent gaps in coverage or unnecessary overlaps.Easier Claims ProcessWhen a loss occurs, dealing with one insurer can make the claims process faster and more straightforward.