Man, thanks guys. You guys seem to be disagreeing with each other, but a least we are getting all the issues on the table.
Our income is over 150k. So I can not write off ANY losses!?!?!?! Arg.
Hmmmmmm......but can't I buy all sorts of 'materials' and perhaps even a vehicle, to ensure that I don't make a profit. If I buy truck that is only used for property managment (and pulling my boat trailer *AHEM*
), can't I write off the payments?
What about interest form the additional mortagages. I know its only a percentage, but I can write that off to, correct?