If you owned a few thousand rental properties, you could argue that owning a private jet is a significant time saving tool and well worth the cost.

If your friends have a rental they should hire a tax professional. 

I've painted more walls, ceilings and trim work than I could ever count in my lifetime and *I* suck compared to professional painters, and most of my paint jobs could pass for lower-end professional jobs. 

Investing in real estate can open the door to many different tax elections as well.A good tax professional can help you collect the information you need, guide you preparing well in advance for year end reporting. 

You can use seller financing, or you can use hard or private money.

I am a private lender here in Atlanta.

These are professionals with additional training and a stricter code of ethics.

You won't have to worry about pesky things like private property rights.

I was able to get a private loan which I used to purchase the house then I used my own money to rehab the house.

Real Estate Professional = 750 hours and more time on real estate than anything else.