I retired in 2008 with 21 years in the Air Force.13 sales in your first year is pretty impressive, particularly for someone on active duty.

Contact potential sellers who are not actively seeking to sell their real estate holdings.  

Take time to learn through military-focused resources like Military House Hacking or Active Duty Passive Income, and connect with other military investors online or on base.

Can you wholesale a deal that is active with a real estate agent?

There are several different types of income in the US tax code.Two main types are “active income” and “passive income".Active income is money you earn from working, such as wages from a W-2 job or income from running a business.Passive income is money you earn from investments like real estate, stocks, or rental income from your RE portfolio where you earn $ without actively working.Normally, you can't use passive losses (like losses from real estate investments) to offset active income like your salary from a W-2 job.That is unless you are an RE Pro.The reality is, that Real Estate Pro status is just a filing status similar to filing married or jointly.And if you are a real estate professional you CAN use passive real estate losses to offset active income from other sources.To qualify as an RE Pro you must:1.

What penalties are normal for this type of partnership?

Very normal.

Nathan, it sounds like you're seeing some of the same type of activity in the last week we have had down here too.

Quote from @Feroz Penangwala: Hi everyone, I’m curious—how many of you are actively closing real estate deals right now?

The issue with section 179 expense is that you normally have to operate at positive income.Under most circumstances, bonus depreciation is better since you can take bonus depreciation even if you operate at negative income.