What is Real Estate Professional Status?

For example, certain states like CA and MA have "claw-back" provisions, some states have withholding requirements, PA has some funky 1031 exchange laws, etc.Work with a rockstar QI (like @Dave Foster) and a real-estate-savvy tax professional to ensure you don't fall into any traps.

, professional management requirements, onsite employee requirements, model units, etc. 12. 

Especially since you've had professionals out there already.

They started the business from scratch in 2003 with a combination of wholesaling, fix-and-flips, and non-conventional financing sources like private lending, seller financing, and lease options—which remains their expertise today.If you had one question for a professional real estate investor who retired themselves by 37, what would it be??

This year is the first year I will qualify as a real estate professional and be able to take some aggressive deductions through things like cost segregation studies.

Had I hired a professional, it would have been done in a month and the extra five months of rent income would have paid for the contractor, saving me six months of nights and weekends.

Consider Autohost or Hostfully both offer robust guest verification and deposit collection, tailored for professional hosts.

Part of it is that for the longest time, it was considered professionally unethical for an architect to do any type of development themselves.

@Sean Relyea switch to a professional property management software system, Buildium, AppFolio, etc.