Are our rentals a business or investment for tax purpose?

[Doris Jin Huang]

2019 is the first year we start to receive rental income. We have 2 rental units located in different parts of new york city. My husband and I both work full-time W-2 jobs. We manage the units ourselves and one of them is quite time-consuming (plenty of repairs, and with eviction involved..). 

1. Are our rentals a business or investment for tax purpose?

2. Curious if everyone actually keeps track of the time spent on landlord tasks?