Or fix and flipping, wholesaling, property management, developing, etc.Sellers of crummy rentals like to point out you can deduct that passive loss against other income.  

They just finished a milestone for fundraising that will accelerate development.  

Essentially I want to transition into Real Estate Investing and Developing in the long run.

We pay referral fees, and in some instances, we partner with developers/investors/equity partners if it makes sense to do so. 

He's starting to develop a good eye!  

Wife says no, but I can tell she is debating it in her mind, I would like to do it to try and help start/continue developing the area.  

It's located in a low income area, but a new developer is trying to turn the neighborhood around and bring new business in.  

You've developed an outstanding resource for learning, collaborating and doing smart business in RE investing.

My wife and I are considering purchasing some land to develop a rental up near the Yosemite area (Oakhurst, CA, Bass Lake, etc) and we often encounter other friends / clients who are interested in doing the same. 

I spent about 30 years defending homeowners, business people, real estate developers, contractors, law enforcement individuals, and others, in lawsuits brought here in the wilds of California, and have to agree with his cautions--and not just here.