All Forum Posts by: Josh Prihoda

Thanks for all the input. We kept the utilities on and know for next time too.

I have a small 6 unit apartment. Water/sewer/trash is all together, so that will stay on.

I have a tenant lined up to move in already at the middle of next month, make ready is basically done. Previous tenant electricity just shut off today (7th). Would you leave the electricity off until tenant moves in? Leave electricity off until a week before tenant moves in to make sure final cleaning and everything is in working order? Or would you pay and leave electricity on for 1.5 months?

Thanks for your thoughts!

Thank you all for replying. I was worried about that, but appreciate all the insight.

What is the difference between REPS hours and material participation hours? My understanding is that material participation are hours that you are actively doing for your properties (day to day and trying to improve them). Is there a separation between REPS hours, where they are hours in real estate that count that deal with properties you did not acquire? My main concern is researching properties online (looking for properties to acquire). Searching online 1-2 hours per day would be 400-600 hours in research alone. Could I add that to my 500-600 material participation hours to be over the 1000 hours I need to be over my W2 job that I had the first half of the year?
It seems like some CPAs say yes and some say no. Any input? Thanks

Thank you all. I guess that is the main thing that I am hoping to understand. What is the difference between REPS hours and material participation hours? My understanding is that material participation are hours that you are actively doing for your properties (day to day and trying to improve them). Is there a separation between REPS hours, where there are hours in real estate that count that deal with properties you did not acquire? My main concern is researching properties online (looking for properties to acquire). Searching online 1-2 hours per day would be 400-600 hours in research alone. Could I add that to my 500-600 material participation hours to be over the 1000 hours I need to be over my W2 job that I had the first half of the year? 
It seems like some CPAs say yes and some say no. Any input?

Thanks

Does anyone have a CPA recommendation for a CPA that specializes in Real Estate Professional Tax Status? Thanks!