You materially participated in the activity for any 5 of the last 10 tax years.6.

I honestly wouldn't even trust anything QB is telling you when it comes to taxes.You're in a partnership, which acts like a conduit to pass through the income/loss of the activity to the individual owners.

For those managing active income streams—like wholesaling, flipping, or even running a real estate business—filing as an S-Corp can significantly reduce self-employment taxes.

Don't try to build a buyer's list with no experience and no active under contract.

To restate, I wonder if it is feasible to pre-qualify prospects financially and criminally before touring.

I'm an active-duty military (retiring soon).

Here’s why and what alternatives might exist:Real Estate Syndication or Fund: Invest in funds that generate passive rental income, which can offset Schedule E losses.Real Estate Professional (REPS): Qualify for REPS to reclassify rental losses as non-passive, allowing them to offset active income.This post does not create a CPA-Client relationship.

I am long but I also do fix and flips actively and consistently.

Since Joe is not a registered lender, Joe is not held to the same standards as a lender and the sale could be a wreckless and poor activity by the bank putting Bob in that situation.

Focus on connecting with investors, flippers, and landlords who are actively buying.