Long term rental when you are not full time real estate professional

[Chris Mahoo]

Hello community,

I have researching on benefits of long-term rental, and a bit stuck on requirements to be full time real estate professional (the 700 hours) if one has to be able to take tax advantages. If I cannot get 700 hours on the property, what are all the other advantages of owning long term rental?

[Evan Polaski]

@Chris Mahoo, rule one of investing: if the investment only makes sense because of the "tax advantages" it is NOT a good investment.  

That being said, the only thing that being a QREP does is allow you to take losses against active income.  So, without being a QREP, you can still offset your rental income with depreciation.  You can offset other passive income of gains with depreciation from your long-term rental.  

To be clear, I am not an accountant.  This is not specific tax advice.