Hey everyone, Jake Heller here.Quick background: I'm a 3rd generation real estate developer.

Without REP Status:Cost seg losses become passive losses.If you have little to no passive income (from rentals or other sources), those losses carry forward to future years.You can use them later when you sell a property or generate more passive income.2.

Further, not sure of your purchase range, but you would need a rather large purchase to generate $300k in losses.

I'm trying to help a friend (who is not on BP) generate leads for a PM in St.

QuickBooks is a better choice than spreadsheets because it connects directly to your bank feeds, automatically categorizes transactions, generates clean financial reports (P&L, balance sheet), and keeps everything audit-ready.

I should also add that the house has extreme sentimental value as it is my husband's grandmother's house and we are the 3rd generation to be raising a family there.

That's the reason I also own a business, because a business is literally generating cash. 

They mention pitfalls associated with using Zelle and such, and advocate for using a platform that generates an invoice.

In order to generate positive cash flow, the purchase price would have to be in $500’s.

If someone fills a closet or room with flammable liquids, chemical products that may generate poisonous fumes under certain circumstances such as flood or fire, stacks of stolen goods they plan to sell online, or, simply fills a garage or "extra" room with used tires and car parts, or barrels of asbestos, who will need to deal with removal and disposal of "Hazardous Waste" if left behind, or worse?