Home Office/Self Employment Tax Question

[Dennis Dempsey]

I wanted to describe a situation and see if anyone can tell me what the tax implications are: You get your real estate license to help with your part-time investing business and don't use it as a typical agent would. That is, you're not out there trying to sell people houses, not even your rehabs. You're a part time flipper that does 2-3 deals a year and has a regular W-2 job. You do all of your area/property research from home in your spare time. Would you have to pay a self employment tax or a home office tax since you're now a licensed real estate agent? Or, would those not apply because you're doing it part time? Asking for a friend...