And because I am a flipper, in the future if the market changes or I don't want to AirBnB anymore, I will be able to sell a completely renovated, updated unit.  

Since lenders now ask for 2 years of prior tax returns, not filing could jeopardize your future real estate investment career, especially if your increase income this year.I also know that for the Schedule C the minimum to file is something like $400 net but I'm sorry that I can't find the answer for Schedule E.

Pros:Tenant pays your mortgageYou live for free or at least very cheapHelps you build a relationship with a bank for future deals if you do financing Gets the first deal out of the way so you're not scared to keep going.

The ability to defer taxes into the future is one of the greatest attributes of owning real estate directly.Finally, because private equity real estate is typically held in an LLC, which is considered a pass-through entity by the IRS, 100% of income, losses and expenses pass through to the owners.

In the future I'd like to look at a quit claim deed to an LLC.

Definitely a book that has changed my mindset and future prospects in less than a year. 

Good luck with your future REI ventures!

While I believe wholeheartedly in being fiscally conservative, if you always are sacrificing for the future that never arrives, that isn't much of a life. 

Hello all, I think this will be kinda long, so I'm gonna try and give you a quick summary if you don't want to read it all:Current diesel mechanic, just turned 30, living in Austin, TX, looking for more lucrative care...

I'm actually looking to move into the PA market sometime in the near future as I will be moving out towards Robinson soon.