Thank you everyone for the warm welcoming and tips.

Yes, any losses can be carried forward until the time when you can take them...or you sell and those losses can then be used to offset your gains.One thing I would keep in mind, is that lenders may not like to see that loss on schedule E.

I welcome all tips and advice.

*shrug*By contrast folks actually residing here, that are here lawfully...Teach them how to hack FICO, they do exactly what they are told.Teach them to season funds, they do exactly what they are told.Teach them (or their CPA rather) what stuff we look for on Schedule E, make sure the rent and fair rental days are accurate, get aggressive with depreciation so no one is paying extra taxes for no reason, et cetera. 

Thanks for the tip Mike!

Hey BP, I've recently made an account (yesterday) and have been reading articles, the e-book that BP is so kind to publish and I've been looking at different real estate deals in my area (San Diego) and I've noticed that although I typically never find properties that do better than 1% rent over price, there are some properties given that the down payment is high enough, that I am able to "beat" so to say, the 50% rule.

@Phillip Dwyer -- Thank you, please include me on e-mail reminders if you would.

Any help, tips, and ideas are aprecciated.

Thank you @Bob E.

I learned this from Michael Gerber in the E-Myth and from Kent Clothier at one of my local REIA meetings years ago.