Real Estate Professional Status?

[Landon Hale]

I am looking for some clarity on the REP status. My main source of income is a full time W-2 job with a custom home building company (S-Corp). I am part owner of this company. I also have multiple investments as an LP in multi-family properties and I have 5 single family long term residential rental properties. The multi-family properties generate large paper losses most of which are suspended. I'm wondering if my participation in the home building company would meet the criteria for me to be classified as a REP, and if so would I be able to use some of the multi-family losses against all income? This is all new to me and I know it can get fairly complicated, so I'm just trying to see if this is an avenue worth exploring for me. Any feedback/advise is appreciated.

Thanks!