Chimene filed for Chapter 7 bankruptcy2. 

Now, regarding your question: if both of you materially participate, and you both qualify individually, each of you could potentially deduct your share of the losses against your own active income, assuming you're filing separately and own the property 50/50.

This approach is cost-efficient and eliminates the complexities of dual-state filings.

At this point for the first property I'm filing a complaint with TREC, new PM is helping file a police report, calling my insurance, going to most likely have to lawyer up and I have to move forward with repairs as I need the property rented ASAP.

However, if you put it into a Holding LLC that is filed in a state that has Charging Order Protection as the exclusive remedy, then the funds inside the LLC can be protected from any personal creditors.

Besides, If you disclose my personal information on this forum in retaliation for my negative review, I will file a complaint with the appropriate financial regulatory authorities. 

If you're looking to buy, ask the seller for permit history, tax filings, and prior booking records and always have a mid term or long term backup plan.Just because a property has been on Airbnb doesn’t mean it’s legal or sustainable going forward.

Our approach is to purchase notes secured by real estate where the borrower has defaulted and all paperwork for foreclosure has been filed.  

I have an LLC in the works with the state and am also filing for my EIN with the IRS and need to find someone to help me maximize tax savings.

Every study I've seen shows that commission-based, full-service agents are not worth it:National Bureau of Economic Research: "Our central finding is that a seller’s use of a broker reduces the selling price of the typical home by 5.9 to 7.7 percent, which is consistent with the presence of a fairly severe principal-agent problem." https://www.nber.org/system/files/working_papers/w13796/w137...