. $800 a year in franchise tax fees is my no means sufficient to buy liability protection from a determined litigant.4) Would you hire an environmental testing company to test the land (to which you have no legal access - but I doubt the dead guy would call the cops on you) once the foreclosure process has progressed well enough, but before it's conclusion, so that you tell the lawyer to stop foreclosure in case some major contamination is discovered?

Once you have a shortlist, sign up for an account with each one and test them extensively to see how they function.

So for us if we can pay it back in 2 years or less, we will write off that interest and have it paid back in that period and look for the next deal. we find that if it doesnt pass our heloc test it wont pass  our SDIRA test...

I'm not aware of it ever being tested in court. 

I have contemporaneous logs of our time and believe we've met the 500 hour test in 2022.

You also want to hear how they recommend stress-testing deals and their recommended buying criteria; being pushed into a bad deal can cost you a lot of money and grief.

In this scenario, I'd do that by testing out these ideas you have before quitting your W2.

My understanding is you do not need to pass the “real estate professional test” for this.This seems like a big loophole for STR investors.

Hi Tj, when starting something new, start with a pilot program with some funds that's not gonna sink the ship even if you took a major lost and test out the water.

This is done by hiring an industrial hygienist or an air quality professional to come to the property and test the air and surfaces for mold spores.