The W-2 income does not limit your deductions.You are entitled to write-off as much as you want.The next question is, is the overall loss considered passive?

And if they're smart they can maybe get a tax break for it, if they can show a loss on paper.

Keep your sites clean, reduce your liability exposure, keep your loss run reports clean and premiums from increasing. 2.

Then I will deep dive the asset.I agree that you lose control also, but new investors doing a flip and trusting a contractor they met on Angie's List is way more a loss of control I think.

I see story after story of people being upside down and having to sell at a loss because they chased the shiny object without enough due diligence. 

You need to go to in-person real estate investor meetups for at least six months and then the books and podcasts will come into real-life vision for you.

Motivation is an emotional response to a circumstance, not the circumstance itself.Someone in foreclosure, job loss, tax liens, are all circumstances.

Hi Kevin,I’m sorry for your losses.

When I’m working with clients on their STRs I emphasize the need to have a clear vision for what the property can be.

Chapman I love the vision here being that I currently am doing this with one of my sons who's going to school.