The calculation itself is relatively straight forward and just like Daniel explained you're typically "Filling up" your tax bracket with a conversion. 

I have $30k of stock options losses this year (multiple bad trades in a row lmao after making 35k last year off options and sadly paying a lot of tax that cant be carried forward to this years losses).

Moved to Panama in 2022 and started a licensed hard money lending business in 2023.

No one predicted the huge jump in interest rates and rate caps, so great operators want to be conservative moving forward.   

You can find videos/articles online on how to get the basement dry, but the basic process is: 1) turn off all electric to the basement (to avoid electrocution from the water), 2) run pumps to get the standing water out of the basement (sounds like you're already doing this)3) remove all furniture and items from the basement,4) once you've pumped out the standing water from the basement, rent a wet/dry carpet cleaner/extractor from home depot, and use it to extract as much water as possible from the carpets (they'll be much lighter and easier to move once you get the water out). 5) After you've used the carpet extractor to get most of the water out of the carpet, remove all carpet and get it out of the house for drying (if you're trying to salvage the carpets), or throw the carpet out.

And I would even move up to a larger and more expensive one … but this gives you the idea.  

If they know they can't pay they move and it's over.

Fast forward to April 2024; we are both back working and would like to start setting ourselves up for more opportunities. 

I've also learned to have a healthy level of skepticism when someone is TOO eager to move fwd quickly after/during a first meeting.

I need to move fast as some of these properties come from an offmarket seller.I need to increase my portfolio of SFH homes.