Exception #2: "Real Estate Professional" exception.

Unless you qualify as a "real estate professional", you wouldn't be able to deduct your excess passive losses (losses that exceed your passive income) against your other income.I know you're hating to pay all those taxes.

I moved to Fishers a little over 2.5 years ago from Fort Wayne, IN and I have been couped up in an office ever since and not out in the streets looking for neighborhoods, properties or people.I need to make some contacts and build a team of professionals that can help me reach my goals.

BTW, one of my personal favorite investment professionals is Harry Dent; has shown a long-term deep undestanding of markets, but that is a little beside my point.

After the property is located, the homebuyer and their real estate professional should make a marketability analysis prior to signing the sales contract.

So I would not venture into buiness of this sort (Bulk REO's, NPN, etc.) and let the professionals handle their business cause they know what they are doing.

I would bring in one or two professionals for their opinion.

obviously the rents are premium priced for short stays/furnished places.I have heard success stories from those renting out middle/high end places to professionals, executives, etc who will be in an area for a month or two, and don't want a hotel lifestyle.Those types 'generally' cause a lot less trouble than most rental niches it seems.I'm quite interested in this as well, and am leaning towards it for my REI because I can then have some vacation homes for myself as well :)

All of these guys are professional roofers and pick up side jobs, such as mine.

We also have a patent pending invention called The Moon Room and I am a professional photographer.