I can only see the benefit of forming a self performing property management company if you believe you can be more effective on cost and service than the local 3rd property operators and even cost can be tricky to calculate because most focus on the management fee that's charged rather than the cost to put out fires when they do arise.

If you're a 5% owner for only part of the tax year, then only the services performed during that period count toward qualifying.Also, it's important to note that the Tax Court has held that merely being on calls doesn't meet the 750-hour requirement.

Can you help me out and point me in a direction for lending for beginners in this market? 

Since you are from WA, I am wondering if you know how that market perform. 

@Jason Kahan To perform a 1031 exchange, the ownership structure is crucial.

Proof of Services.Be prepared to provide proof of the services performed and hours worked, especially if the IRS requests this information during an audit.6.

Also, don’t forget to explore platforms like Airbnb and VRBO to see what properties are performing well in your target areas.

Start with BiggerPockets Ultimate Beginners Guide (free).

We have several rentals that we have purchased over the years near the Woodlands/Conroe area that have performed much better for cash flow with the same appreciation %.

It typically involves the following steps:
1.Seller Deliverables. Request a detailed list of documents and information from the seller, including financials, leases, contracts, capital expenditures, surveys, environm...