REPS status as Photographer

[Tatiana Viviano]

Last September while going through a transition to more passive real estate I started doing real estate photography for a photography company 1099. We became very busy this year and I started making great connections with alot of agents, builders and flippers. I get to see houses before they are listed and saw an opportunity to bird dog a bit as my money is out on the streets for a build in FL currently. I also refer some of my contractors for repairs.

I began sending info to flippers for upcoming rehabs as well as my general observations on repairs. I began networking a bit more and began building my own client base. Many of the houses I visit between the Jersey Shore and Philadelphia have STR potential and I spent some time with agents familiar in it going through numbers etc.

I spoke with my tax strategist and he told me so long as I meet 750 hours of shooting properties and meeting with agents or owners I actually qualify for real estate professional status! I was blown away! I am providing a service in "real property" for Aquistions, rentals, redevelopment and management as stated by the IRS for qualifications. Conversion maybe as well? I can then offset my husbands W2 Income as well as my own. We entered a higher bracket this year so this would be tremendously helpful. I also checked with another accountant and he agreed it can be obtained.

!! NOTE!! I will have to make public notice that I am doing business as a sole proprietorship under, " __<whathaveyou>__ Real Estate Services"  and   I will of course have to keep detailed log books and be sure to log the time driving from my home office to each property I shoot, but looking at my year average looks like I could definitely hit 750 hrs. between January and December this year.

Has anyone found themselves reaching REPS status doing other services for real estate instead of "in" real estate? As 1099?

I welcome any advice as I want to do this correctly. Part of me wanted to throw in a small quick flip this year to seal the deal. But I am very busy now and don't want to have to do that if I don't have to.