Buying investment property is a great way to build a portfolio that delivers wealth now and sets you up for a comfortable retirement in the future.

If so I don't think at this point with only 1 triplex (with me living in one of the units) I would have enough passive gains to need the full $25k of passive loss.And would I be able to save some of these passive losses for future years as it sounded like @Brandon Hall you alluded to?

If you  are seriously looking into buying this property and possibly using it as 2-unit now or in the future, I'd suggest spending $150-200 with a land development consultant who could explain to you the issues and challenges related to such rezoning process.All that said, City of Austin code enforcement is very complaint driven.

Obviously, there are a number of factors such as which financial institution you're dealing with, your details, and the property that change these loan factors around.

Therefore, future properties will be purchased under the LLC I just created.  

@John Anderson I know you don't need it for a background check but you do need it if you have to send them to collections in the future, right?

Real estate has changed my life and my future personal growth has went through the roof.

I am a former accountant/financial analyst and current stay-at-home mom.

I look forward to learning more, putting together a team to help us continue this journey and most of all, I want to be financially free so I can pass on the knowledge to my daughters so they don't have to live the whack-a-mole life of 9 to 5 in a cubicle.Here's to living life happily!

Put your interests in alignment with your investors rather than in opposition to their interests and you can build a much more profitable and long term sustainable business with the same financially sophisticated clients rather than always having to constantly search for the next sucker.