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Updated almost 3 years ago,
Real Estate Professional Qualification
I have 40+ rental properties and I managed them all myself. In addition, I am a real estate agent and buying several properties each year for myself and have a W2 job.
Will I qualify Real Estate Professional?
I do materially participate and work 2000+ hours in real estate. However I didn't have a detailed log for the hours.
I spent a lots of time in
1. finding the deals, 2. applying the loans, 3 managing the remodeling (5 remodeling each year), 4 managing the rental properties, 5. rental property tax preparation.