In the event you sell, all of the accumulated passive losses will get written off in order to lower your overall tax scenario.If you use the same tax preparer (or the better self prep software packages), those passive losses should get "saved" every year and then will be available to use when applicable.

The IRS will only issue ITINs to those taxpayers who include original documentation (meaning passports, birth certificates or certified copies of these documents from the issuing agency) with their federal form W-7, Application for IRS Individual Taxpayer Identification Number.

Hey @Eugene LeeAs a few others have said, you can go ahead and throw all those rules of thumb right out the window.While I'm sure they're applicable in some markets, I can tell you first hand that most, if not all, of the "% rules" you'll see mentioned on this site simply do not work in San Diego.What kind of property are you looking to purchase?

BP has free online videos and educational course for you to watch and learn from.

At BP, you can watch and learn from the free online videos and courses that are offered on this site.

Screen as you would any tenant applicant and you will get the quality of tenant base on your screening criteria.

BP offers free online videos and courses for you to watch and learn from and also has it's own podcast in itunes.

At BP, you can watch and learn from the online videos and educational courses that BP has to offer on this site.

It's exactly that.When I see those stunningly low rates, invariably the underwriter can't tell me how many ways Fannie Mae calculates rental income and when each way is applicable, she can't tell me about net loss carryover, if I'm lucky she knows that you add back depreciation, she can't tell me about how to calculate Patronage Income for all the Berkeley-ites that work at worker-owned socialist co-ops, she can't tell me how much you add back for each business mile driven showing up on page 2 of Schedule C of tax returns, she doesn't know how Fannie and Freddie vary for S Corps, has no idea how transfer taxes work in the Bay Area because she is in Narnia, can't tell me anything about the California Association of Realtors Residential Purchase Agreement, et cetera. 

Yes, it's a complicated application process whereby you apply for the LIHTC prior to construction.