Like others have said, you cannot claim the tax losses until the funds are sold and "realized". 

Quote from @John Winters: Greetings BP ~I am hoping to receive some feedback on the financial feasibility of this plan and/or some tips to improve it. 

It's absolutely crucial investors know if they can or cannot use losses. 

But if I sold today I likely would lose atleast 10k.Would it be feasible to just relocate for the job and rent the house for the time being and see what happens?

If you spend the entire $300k restoring the property, then here is the end result:- deductible casualty loss of $50k- no current tax- the restored property has $0 basis and cannot be depreciated- when it is later sold, the entire sale price is taxableMechanics and reporting are tricky, and I would not recommend to DIY it, especially since my scenario is over-simplified, and your real scenario is likely to involve more gotchas.Thanks so much. 

First - Have a discussion if the rental loss will immediately help your tax situation. 

My goal while I'm working is to always report a break even or loss until I retire.

Sharing leases, profit and loss sure but no inspection. 

This is advertised as a “protected” note as Aloha is supposedly fronting the first $100k in the line of loss.

We are at the feasibility stage and need help determining the best way forward for the land we have in Maricopa, Arizona.