they are gone now.. thank you  for your response it means so much to methe notice was in writing and I can prove all the dates 

Bottom line is this, everyone wants a piece of the pie, study the numbers and be ready to walk away if they do not make financial sense.

Many companies who build equipment have to prove they are ISO 9001 compliant to sell to some of their customers.

., you proved me wrong.

I want to figure out and study up on financing options for my first deal.

I will be attending a top school this upcoming fall, and planning on studying Business Administration.

And it proved to be a worthwhile visit.

Also, important are rent studies.

Hello all,I am a student studying Industrial & Systems Engineering at the University of Oklahoma with one more year till graduation (woo!).

I do know that if you're not a RE professional and even if you're actively managing your real estate assets you will not be able to write off any of your passive losses from your rental real estate when you're over 150k AGI (you mentioned you were 190k AGI - prior to itemized deductions and exemptions).Also the other thing is that when accountants go to create your depreciation schedule they dont take the 1.75M and divided it over 27.5 years.They typically (other wise proven via engineering study or cost seg report) use the LA/ventura county tax assessors value for land and improvement(building) and they take that percentage on the assessors website and apply it to your 1.75M sales or acquisition price to determine your depreciable basis.So for example, if the improvement was 80% of 1.75M then you have a depreciable basis of $ 1,400,000 / 27.5 years = $ 50,909.10 annual write off.Back to the above REpro, if you're not a REpro, you wouldnt be able to write off anything against your active/earned income and you feel the full brunt of the tax man unfortunately.