I am ready and will be starting with property number one sometime, hopefully, quarter one of 2025 with a possibly 2 bedroom and 1 bathroom single family home; as this is within my current budget.

House hacking is a great way to get started.

And start the two year clock ticking again. 

Looking for any advice for someone starting out in this realm.   

its unfortunately not going to be as easy as googling, but that might get you a list to start with and refine.  

I am also a local Realtor for an amazing investor focused realty team that helps our investors from start to finish and beyond with their investment properties.

Honestly, it seems like you’ve got more skin in the game than I do since I’m just getting started as a bird dog, but I really admire your approach.I think your focus on tax-efficient strategies and building a reliable team is spot on.

Thirty years ago I started purchasing and living in properties in upcoming inner city neighborhoods that required renovation.

I know that's what you started this thread for. 

I would tend to agree with the other CPAs typically.The 500-hour test is one of seven material participation tests used by the IRS to determine if a taxpayer is actively involved in a trade, business, or rental activity.