Quote from @Dave Chengoue: Quote from @Wale Lawal: @Dave ChengoueIt's great to see your focus on multifamily properties and your clear plan for self-management.

Some ideas were being a virtual assistant for hosts and co-hosting. 

However, we will likely need a property manager to assist with some facets of running this rental (since we would not live locally) and would primarily market it through platforms such as Airbnb and VRBO to start, (eventually setting up a direct booking process).Here's our question for those who have experience in STR's or who might be involved in a similar scenario: How challenging is it to meet the material participation hours needed to achieve active status?

I wanted to reach out and offer some assistance with your question.As someone in property management, I’m pleased to share that we’ve had significant success with the Section 8 program.

But, I was once a paid preparer and prepared or supervised the preparation of tens of thousands of tax returns and I saw some pretty stupid self prepared mistakes.

You would have to self-manage though, as paying a property manager will eat up most of your profits.

That said, if you have a very specific issue, please contact support@biggerpockets and perhaps they can assist you.

Some reasons you'd need to sub your tax returns: if you have a schedule C (self employemnt) or a schedule E (rental income). 

@Jerry Chilimidos, I see that you are self-employed.

Michael Mergell (self), the Investor's Broker