Loren, if I'm able to forego the property manager, I would love to do that.

I want lots of thriving economic attributes that support areas I invest in specifically.

On top of this, I house hack so I only attribute a percentage of the dwelling as eligible for depreciation. 

Just an idea, perhaps he should calculate the losses attributable to depreciation across all 15 years and hope the losses sustained during the early years (i.e., the years closed due to statute) were all suspended under the passive loss rules so they could carryforward into the present, so when he sells the property those losses are released to offset gain (e.g., gain attributable to full depreciation recapture which it sounds as if he will have no choice but to recognize).

As you are building a place, an expenditure is attributable to the enlargement of the building or the internal structural framework of the building is not as Qualified improvement Property. 

At some point, I may outsource the property management portion when I can no longer effectively do the work myself, but then I would still need to oversee what the property manager is doing.

As a VR manager I was excited when I saw the title of the show, but that's where it stops.

He still earned $2000 for posting an ad on Craigslist...And avoided a seize and desist order for brokering from the Dept of Real Estate (if he is not licensed)See http://www.dllr.state.md.us/license/mrec/mrecdodon...An unlicensed person MAY NOT:Prepare promotional materials or ads without the review and approval of licensee and supervising broker.Show property.Answer any questions on listings, title, financing, closing, etc.Discuss or explain a contract, listing, lease, agreement, or other real estate document with anyone outside the brokerage.Be paid on the basis of real estate activity, such as a percentage of commission, or any amount based on listings, sales, etc.Negotiate or agree to any commission, commission split, management fee, or referral fee on behalf of a licensee.Discuss the attributes or amenities of a property, under any circumstances, with a prospective purchaser or lessee.Discuss the terms and conditions of the real property offered for sale or lease with the owner of the property.Collect, receive, or hold deposit monies, rent, other monies, or anything else of value received from the owner or lessee of the real property or from a prospective purchaser or lessee.Provide owners of real property or prospective purchasers or lessees with any advice, recommendations, or suggestions as to the sale, purchase, exchange, or lease of real property to be listed or real property presently available for sale or for lease.Hold himself or herself out in any manner, orally or in writing, as being licensed or affiliated with a particular company or real estate broker as a licensee.Contact the public concerning the availability of real estate brokerage services unless an inquiry about a specific property is immediately referred to a licensee.Elizabeth H.

The project manager is mia for a few days and materials get stolen at the 11th hour.

He has been contacted by the property manager of the building where his deceased fathers’ condo or co-op (I don't know which one it is) is and the property manager is offering to purchase the property from him for $70k.