If your AGI is > $100k then your ability to deduct passive losses will be limited.

The ability to clone last month's transactions with revisions as needed.

I really enjoyed the process and realized that I have a natural ability to connect with people over the phone and break through some of the usual resistance that comes with cold calling. 

They want to live with friends, care for one another and share the cost of care once it gets beyond their ability. 

Quote from @Jay Hurst: Quote from @Nghi Le: Quote from @Jay Hurst: Quote from @Nghi Le: There are two main reasons why not reporting to credit is a big advantage:If it doesn’t show on your credit, it may not affect your ability to get DTI-based loans. 

I am fine just going forward on trust because theses are close friends but if we can have some form of TIC agreement without risking losing the ability to 1031 upon sale, I would like to get that in place.Thanks for your input, @Bill B. and for tagging me. 

Might impact your ability to rent the three to cover the mortgage?

Our architectural firm is not a developer nor do not have the ability to take on "risk" like investors.

So from a pure tax deduction standpoint, nothing changes by simply moving the title to an LLC.Here’s what does matter for tax purposes:Your ability to use losses: Even if the property is generating a paper loss (thanks to depreciation, repairs, etc.), you're often limited to $25,000 of passive losses per year—and that phases out completely if your modified adjusted gross income (MAGI) exceeds $150,000.Real Estate Professional Status (REPS) or the STR Loophole: To use rental losses to offset W-2 or other active income, you must either:Qualify as a Real Estate Professional (750+ hours, primarily in real estate) and materially participate in the property.Or, if it's a short-term rental (average stay under 7 days), materially participate (100+ hours and more than anyone else) to convert it from passive to non-passive—even without REPS.Standard deduction vs. itemizing: You mentioned your CPA said deductions didn’t help due to the standard deduction.

Partner Driven covered 100% of the $140,000 purchase, giving Karen the ability to close without using her own capital.