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.

A lot of the popular areas in Charleston proper that are not licensed under the old laws now require the owner to live on the premises to obtain an STR license.

This requires vetting their claims by reviewing EDGAR filings, property records, court records, Secretary of State filings and communicating with those who know more like city government, a more experienced investor, etc.

HUDuser.org is great for vacancy rates, but cross-referencing with local market reports is important for more context.For job diversity and employers, LinkedIn or regional economic development websites often provide insights.

Both these properties have mortgages and they both are required to have insurance on them.

🔥🔧And you know how we're always chatting about the importance of understanding market drivers like rents, population growth, and job growth?

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

I think a better option is to get a job in property management.

I don't know what they are but unless there's something in the city that requires that kind of notice, it sounds excessive to me.

If you have a 2 year work history, and go get a W2 job tomorrow, we could use your base pay right away (as long as it is "guaranteed hours" or considered "full time".