But there are other tests and if planned correctly, you don't need these two tests or even track hours the first year if your participation is substantially all hours.

Is anyone familiar with the rule listed in the title and is anyone that has a full-time job in another industry using this rule? The first two CPAs I reached out to advised against this. Looking for someone who is suc...

I'm going off the understanding that you still need to spend 500+ hours in the business to achieve material participation (please correct me if I'm wrong). 

You can break it out by general RE activities and material participation.

Engaging with seasoned investors and participating in discussions will expand your knowledge quickly.

Anyone done tax deeds in Florida or participated in the auctions?

pretty small hurdle to have a good win as a private lender just get paid as agreed.now equity participation loans those can spin the needle pretty well ..

Many other projects have reduced or suspended planned CF distributions and I've also had a few capital calls in which I did participate since the business case still made sense (the MF in Florida had a capital call to finish construction and get through stabilization and it still returned the 32% IRR).I expect almost all of the deals to be OK, just later exits than originally projected.I am very concerned about one project and have already written it off in my head.  

An investor who has participated in a subject to transaction without lender approval should NOT assume that they are safe from note being accelerated because a certain amount of time has passed.  

or if you are an accredited investor participate in a syndication.