The Richest Man in Babylon by George Samuel Clason: “To attract goodluck to oneself, it is necessary to take advantage of opportunities” “Men of action are favored by the goodness of good luck”One of the most important qualities that I see in successful individuals is that they take action.If you do nothing, nothing will happen.Where do you need to take action in your life?

It’s usually the individuals with the highest character who get burnt the worst because they are the ones willing to put themselves in uncomfortable situations to do right by their partners and as a result believe others should operate the same way.

Flexibility and solving their individual needs/logistics. 

Im a very busy individual but I find it logical and necessary to make time to see something I have hundreds of thousands of dollars in.

Texas licensees are not allowed to pay non-licensed individuals for referrals.

In that case, the taxpayer had individuals testify to his character and work in court, which is an unusual scenario and highlights the difficulty of making such a claim.If the TP cannot qualify for REPS, they may still be eligible to claim material participation in the deals, even with less than 5% ownership in some of them.

Private lenders, often individuals or small firms, are another option.

W-2, 1099, etc.) with passive income/loss from my rentals (STR, LTR).AnswerThere are a few ways, but the most common for real estate investors is to own a rental that 1.) meets the IRS requirements to be considered an STR and 2.) fulfill the material participation requirements (this doesn't require Real Estate Professional Status or REPS).

Most areas of the metro you can rent to an individual for $800+ month / room and even more than that if you're renting a room and private bathroom. 

A positive answer reinforces their suitability as a renter.Tips for Conducting Effective Reference Checks Effective reference checks help you select reliable tenants who will respect your property and fulfill their financial obligations.