REP status for running STR's

[Pam Smith]

Hi all-

I currently have a full-time "day" job but would love own/manage STRs full-time. Just curious, anyone with REP (real-estate professional) status on here, how many STRs did you need to get to in order to qualify for this?

Thanks! 

[Pam Smith]

Thanks all for the great responses! We have 1 STR right now that went live in mid-May in a very, seasonal location. We did $72k in revenue from June-October without any reviews to begin and after all expenses (including start-up costs and 12-mos of mortgage) we profited about 15k after 100k down. We're looking in the same area as we have a great team around us. My husband has a great job that can allow us to get a few more properties without taking into consideration the revenue from these properties. I also make a great living with my full-time job but really enjoy this new venture. Would love REP status to help offset my husband's W2 if I quit my job.