After accounting for social security and other investment income like IRA/Lifeinsurance/Stocks (of which was made possible because of real estate cash flow)  my mother would be classified as part of the1% and earns a corrsponding Passive income.  

You must work at least 750 hours per year in a qualified RE business.So most people who have high-earning W-2 jobs outside of real estate won't qualify.But the unique thing about RE pro status is that even if you don’t qualify but your spouse does, you can both file jointly and claim the losses from your RE investments to offset your other active income together.It's an incredibly powerful benefit if you do meet the criteria.

Exciting news: RentRedi, one of our valued Pro Partners, has earned a spot on the 2024 Inc. 5000 list.

I have come across a lot of new agents that are never sure which brokerage to begin their real estate career.

I also have earned income as well.  

Otherwise, look at side jobs you can do to earn extra money. 

Hands down the best decision of my investing career. 

Many syndications provide tax benefits such as depreciation, which can offset income, and some offer favorable capital gains tax treatment when you sell.Municipal bonds are another tax-efficient way to diversify, as the interest earned is generally tax-free at the federal level, and sometimes state level too, depending on where you live.

I began my RE career in 2003 during the 'boom' times as a mortgage broker.

What was your tax plan with your earnings from your W-2 job from the time you stopped investing in the 401k until you had the funds to purchase real estate?