The IRS is very stringent on education and research hours, and have shown in several tax court cases that people who just "manage the manager" will not pass the audit.

In the case of an audit, not only do you have to prove that you did at least 100 hours but you also need proof from your vendors that they did not do more than you. 

Learning from others' experiences and perspectives can provide valuable insights and help you make informed decisions.Have a Plan: Define your investment goals, whether it's building passive income, achieving financial independence, or growing your wealth over time.

The house buying candidate is that you set yourself up to run as an independent politician who buys houses.

They took it back and had is audited and redone by someone "whose been doing this for a long time" and when I got it back, the updated amount due was literally a fraction of what they initially stated (my taxes due were literally overstated by like $15k)But then, someone else reviewed it one more time and again, they caught something else they "missed" which changed my amount due again and it went up by another $4k or so.At this point, I've called in my old tax preparer and she's doing her own audit so that we can compare the 3 returns TS has given me with what she gets — which is another expense incurred for me. 

@Ranier Moore All properties should be viewed independently and for their own merits.

Rehab loans are never going to be a sure bet because there is typically the need for an independent 3rd valuation, AKA an appraisal.

This is a great illustration of why you should have an independent agent/broker that you can consult with before contacting the actual insurance company. 

So now, each side must work more independent of the other.

Under audit, if you don't have the time log for you and everyone else you will not be able to claim these losses.