He is also an investor and top producer.

Joint Filing Considerations.If you are married and file a joint tax return, either spouse can qualify as a real estate professional.

You should usually expect an appraiser assigned to any file to be in touch within 24-72 hours max. 3 weeks you’ve been waiting to get contacted for appraiser is too long for refi, something seems off?

Start a business that produces cash flow. 

Our market is unlikely to produce outstanding cash flow with the use of a PM and if you are self managing, your cash flow equates to earnings for your efforts.I am hopeful that the high interest rates have had a negative impact on income and that the STR income will improve if rates decrease.  

Oftentimes, we would work closely with CPA to make sure how our borrower's taxes can be filed that would save them from paying taxes, but also making sure they can qualify in a lender's perspective.You would want to make sure your first few deals has an acceptable of return in order to lower your DTI and expand your investment portfolio in Real Estate.

However, this approach might add complexity, such as additional tax filings, self-employment taxes, and administrative costs.

And file in court 3 days later.

Rehab costs, holding costs, and the ARV will be the largest cash eaters or cash producers with this deal.If you underestimated the rehab (both costs and time) and overestimated the ARV, you could be underwater very quickly. 

It would likely kill all your cash-flow.In my opinion, filing + advice for someone with that portfolio size should be less.best of luck