The 500-hour rule means spending at least 500 hours actively managing your rental property, which could include things like tenant communication, maintenance, and bookkeeping.You can also group multiple properties together as one “activity” to make reaching the hours easier.

If you are pursing that path then one spouse alone must meet both tests.Qualifying hours for the 750 include time spent working on the business activities mentioned above.Again, more than 50% of your time means this is way more than a hobby.

Hey @Karl Kauper, lots of property owners here (including myself) but maybe not a lot who are active in the forums and own properties in the specific location you mentioned.Also, something to keep in mind, BP is an education company.

The move-in experience is so crucial so please do not skimp out on that.Quote from @Lateefah Mathews: @Tar-U-Way Bright I'm in agreement with everyone else here...House Hack!

For me, waiting until I had my green card was crucial.

Instead of waiting for others to reach out, take the initiative and actively seek out the top wholesalers and providers of off-market deals in your area.

I place my own tenants and make every effort to avoid unstable and seriously disordered individuals, addicts, and those actively engaging in criminal activities.

Looking forward to being an active member of this community.  

The LLC has to do the 1031 exchange because that is the tax return reporting the activity of the property. 

Some deals just "work" from day 1 and everything falls into place.Others don't work out no matter what you do.I've done hundreds of them in my local market and would only sell if it was one of those doozy type deals.Funny thing is, a property I own next door might be fine.But for whatever reason the cursed property just isn't lol.If you are wanting to use the equity, then use it to "Gung Ho" and full time.Meaning, don't buy turnkey and use the capital to buy, fix and flip instead.Money makes money and being very hands on and active, you can get to where you want to be quicker.Just my opinion.Thanks