If the taxpayer materially participates in each rental real estate activity, his/her losses are fully deductible, and the $150k threshold no longer applies.It sounds like you are familiar with the test, but I will restate it her for the sake of completion.At least 1/2 of personal services in all businesses for the year must be performed in a real property trade or business and rental real estate.The taxpayer must spend more than 750 hours in real property businesses and rentals in which he/she materially participates.Both must be satisfied.  

The educational value is minimal, especially for anyone that has at least a vague familiarity with RE investment.

(If you weren't already familiar with them???)

That in conjunction with seeing your yard signs, billboards, Facebook advertisements and receiving your direct mail will create brand awareness and familiarity that will lead to sales.

I'm new to wholesaling and am familiar with some strategies for wholesaling rehabs, but I'm not sure of good ways to work with wholesaling rentals.

@Andrew Johnson   what is a T12  not familiar with that ?

I'd be interested to hear what investors familiar with the NY area would say about this deal. 

Maybe someone more familiar with LLP can help out.

I'm not familiar with your area,  however 20% down, plus rehab money (not sure how much you're looking to do) 3.

Are you familiar with all of the benefits that come with them?