However, if you made the property available for rent in 2024—meaning you actively advertised it, listed it, or had it ready for tenants—you may be able to deduct certain expenses like mortgage interest, property taxes, maintenance, and depreciation for that period.

Are you actively investing or have an active portfolio?

But it's YOUR money, and Real Estate, to put it mildly, is a contact sport).Month 5: Deals & Network (15-18 hours/week)Submit first offersAttend 2-3 REI events monthlyBuild social media presenceKey Goal: First offer acceptedMonth 6: Scale & Automate (15-20 hours/week)Delegate initial tasksEstablish morning/evening routinesCreate follow-up systemsKey Goal: Sustainable weekly schedule🚫 Common Pitfalls to Avoid:Overcommitting earlyNeglecting W2 responsibilitiesSkipping system creationTaking on too many mentor calls✅ Success Markers:Consistent daily actionsGrowing networkClear systemsNo work conflictsSteady deal flowMaintained energy levels👉 Action Steps This Week:Audit your current scheduleBlock 2 hours dailyChoose your power hour (morning/evening)Set 30-day milestoneGeneral Comment:  obviously not everyone will follow these suggestions.  

You’re in an ideal market for growth—DFW is full of active investors and countless networking opportunities through local meetups.

I will be the one actively managing the property and doing most of the research, and my brother will act as more of an investor.

You’ll likely connect with local investors who are actively looking for deals like yours.

I’m actively growing my network, attending meetups, and soaking up as much knowledge as possible.

There are two requirements to claim REP status1) 750 Hours2) You spend more time on real estate than other activities such as your W-2 Job or BusinessYou want to work with a tax professional who will be able to advise you on what hours count and what hours do not count.Furthermore, the CPA may have a nice worksheet that you can use to help you document your hours.Best of luck!

Instead of just writing "property maintenance," note activities like "installed new light fixtures" or "deep cleaned kitchen for guest turnover."

The reason cited is that since we aren’t performing the renovations, we aren’t exposed to these risks.For those who actively flip, what type of liability / E&O insurance do you carry to protect against these risks?