Note that if you are married filing joint, only the spouse who is qualifying for REPS is able to count their hours.Step 4: Apply the quantitative testsPer Section 469(c)(7)(B), in order to qualify for REPS, you must meet both of the tests below:750-Hour Test: If you materially participate in a real property trade or business, you must spend 750+ hours during the tax year.More Than Half Test: You must spend more than half of your personal service hours in the real property trade or business in which you materially participate.Step 5: Material participation in rental activities Just because you qualify for real estate professional status does not mean that your rental activities are automatically considered non-passive.

Once your unit is rented, where do you end up spending most of your time as an investor/owner?

And yes, it may be a good idea to work for a wholesaler first to get your feet wet.I don't think it's necessary to spend money to get your real estate license first. 

To reduce your tax bill, consider qualifying for Real Estate Professional Status (REPS) by spending 750+ hours on real estate activities, which reclassifies losses as non-passive.

I also cherish spending quality time with my wonderful fiancée, Miranda.I can’t wait to connect with all of you!

I am looking to buy fixer upper homes in Calgary, but I am going to spend most of my time finding deals. 

Most of these links will also be low-quality, as most link builders take the path of least resistance and buy links.It's really hard to build links and no agency is going to spend the time is takes to do it right, as the return is just not there for them unless you're paying ~$1,000+ per link.

The only time it gets dicey is when its the ultra rich because yes they can spend the $ to keep it hidden. 

Yes, if anything its easier since no residential restrictions. savvy participants.Harder because you have to know how to present a property, typically have to spend on chase costs prior to assigning.

Stop hanging out with your deadbeat buddies who spend all day drinking, talking sports, and otherwise wasting away.