Qualify as a Real Estate Professional (REP) under the tax code. • This requires significant hours and material participation in real estate activities.• For someone working a full-time W-2 job, this is very difficult to achieve legitimately. 2.

Your challenge will be deciding between:Small CrewPros: Cheaper, usually one point of contact, flexibleCons: Hard to find, less professional, they may not always admit they don't know how to do something, price changes are vague, often surprisesLarger CompanyPros: Professional bids, processes, etc.Cons: More expensive, less flexible, may need to speak with multiple people

Instead of reacting emotionally, I stayed professional.

I would also suggest you maybe seek out a bigger wholesale or flipping outfit in your area that can bring you on and you can learn from them and then take those skills to do your own thing! 

At Rent to Retirement, we specialize in fully turnkey rental properties that are newly renovated or new builds, tenant-ready and professionally managed so you can invest confidently and passively from day one and often come with hefty seller concessions to really maximize the deal for our investors.We have opportunities across Texas, Florida, and the Carolinas, all in strong growth markets with solid cash flow and appreciation potential.Our company has earned over 300 five-star reviews from real clients and an A+ rating with the Better Business Bureau, which reflects our commitment to helping investors build long-term wealth through real estate.Feel free to DM me to discuss more.

In fact, it is likely to backfire by creating very significant extra hurdles (like double-entry bookkeeping and commingling prevention) and very significant extra costs (professional level bookkeeping and possibly the need to file separate partnerships tax returns).Allegedly, LLCs could enhance your asset protection, but not being  an attorney I cannot comment on it.

I am also wondering about carpet replacement...hoping to also last 6-8 with professional carpet cleaning after each tenant.  

Rather than overextend and risk a misstep on a scale that could set me back years, I intentionally seek experienced partners or mentors who already possess the track record, relationships, and infrastructure for 50–200+ unit assets.By bringing them into the deal as co-GP or capital partners, I gain immediate access to their expertise and balance sheet while still retaining meaningful equity and full transparency into the process.

Thus, while I always recommend working with qualified attorneys and tax professionals, it is especially important to do so in states like TN where you could easily dramatically increase your tax liability if things are not set up appropriately.In Florida, land trusts present a unique opportunity.

T&H Realty is an extremely professional PM company.