Real Estate Professional status

[Misty Porter]

Hi. I plan to claim Real Estate Professional status for the 2020 tax year. I work a part-time job and am aware that I must work 750+ hours in my real estate business, as well as, more in it than my part-time job. My husband and I own 3 SFH rentals that I manage, plus keep up all yard work for, so I know all of those hours will count towards the IRS requirement.

Here is my question that I’m hoping someone can assist with...we are purchasing my in-law’s house and will live in it while we flip it. It is 2500 sq ft and will be completely gutted and restored. We estimate this to be 2-3 year project as we will be doing most of the work. Being this will be a long-term flip, can I still count all hours I work on it as hours towards my real estate status for tax purposes?

Thanks in advance for any clarification anyone can give.