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Updated 3 months ago,
How to prove that an activity performed was "material participation" in real estate
Hello. I'm going to keep track of my real estate activities in management of an STR, and will track the activities using an activity log. My question is - how do I prove in the time log that I performed a particular activity? For example, if I had a 1 hour conversation with a GC regarding the renovations of the property to get it ready for STR, how do I prove that I performed that 1 hour conversation in the log? Do i take a snapshot photo of my outgoing phone call to the GC or can I simply summarize in the log that I had the 1 hour conversation with the GC and summarize the details of the conversation?
Also, if the contractor is performing the work or the repairs on the property, can I count that time the GC spent as my own time in the activity log since he was doing the work on my behalf? Or can i only log the hours that I spent in communicating with the GC regarding the work? TIA