Your best bet at this point may be to dig some test holes in the basement and see where the footings are.

You’ll likely connect with local investors who are actively looking for deals like yours.

I’m actively growing my network, attending meetups, and soaking up as much knowledge as possible.

There are two requirements to claim REP status1) 750 Hours2) You spend more time on real estate than other activities such as your W-2 Job or BusinessYou want to work with a tax professional who will be able to advise you on what hours count and what hours do not count.Furthermore, the CPA may have a nice worksheet that you can use to help you document your hours.Best of luck!

Instead of just writing "property maintenance," note activities like "installed new light fixtures" or "deep cleaned kitchen for guest turnover."

The reason cited is that since we aren’t performing the renovations, we aren’t exposed to these risks.For those who actively flip, what type of liability / E&O insurance do you carry to protect against these risks?

By electing QBI safe harbor, you ensure that your rental activities qualify as a trade or business under §199A, provided you meet the 250-hour material participation rule and maintain proper records.

it is mostly from what I've been seeing in activity in my STR, and in talking with some friends who manage restaurants.

Here’s how:Property Management: Outsource for $25/hour instead of spending your time on tenant issues.Administrative Tasks: Use virtual assistants for scheduling, bookkeeping, or paperwork.Maintenance Coordination: Delegate routine repairs to trusted contractors.The cost of outsourcing is often a fraction of what your time is worth, freeing you to focus on high-impact activities.

Perhaps there is an opportunity for us to work together.Thanks again for responding.If you're looking locally, I'd focus on markets with a decent amount of activity/inventory so that you have more options i.e.