Without knowing specific financials, I would say cut your losses and sell.

Consult with a qualified tax advisor who understands these limitations and can help develop a comprehensive strategy aligned with your specific situation.Remember: The best tax planning looks beyond immediate deductions to your complete financial picture.

For example, lets say I invested in something and it had $100k in passive losses.

The instruction stated it should go on form 4797, and the loss is subject to unallowable loss limit.

Obtaining REP status does not release prior passive losses. 

If we had simply accepted the initial report, we would have walked into a financial disaster.

They literally went through each operating agreement and prepared an email listing out each member of each LLC and clarifying they each had to guarantee the loan despite the fact none of those entities were even being used for the purchase (which was previously explained to Dominion Financial). 

This makes you exposed to the biggest financial pitfall that comes with owning a rental property...vacancy time (the amount of time your property does not have a tenant).Setting your rent a couple hundred above market rate is not a vacancy issue.

.✅ Calculate potential profit/loss using this simple formula:📊 (Monthly Rent - Total Monthly Expenses) = Net Rental Income3.

"Financial Advisors" tend to be glorified stock brokers.