Throw in some extra costs like moving expenses, professional photos (a cost the STR PM may also need to pay depending on the quality of the existing photos), renter's and lessor's insurance and a listing on furnishedfinder to round out some of the start-up costs.

We got the maximum amount they allowed, which is about half of our mortgage.

Half of sponsors are now getting crushed when the going is getting tough, and those previous track records don't really mean much, compared to the things I list above.  

Note that if you are married filing joint, only the spouse who is qualifying for REPS is able to count their hours.Step 4: Apply the quantitative testsPer Section 469(c)(7)(B), in order to qualify for REPS, you must meet both of the tests below:750-Hour Test: If you materially participate in a real property trade or business, you must spend 750+ hours during the tax year.More Than Half Test: You must spend more than half of your personal service hours in the real property trade or business in which you materially participate.Step 5: Material participation in rental activities Just because you qualify for real estate professional status does not mean that your rental activities are automatically considered non-passive.

Felt like I was speaking with a virtual assistant backed by AI.He estimated my re-roof would be half the size at double the rate quotes I got from everybody else... truly amateur hour for somebody that claimed to have done hundreds of these.I also was never able to find more than 5 property records tied to his name or to related LLCs.

If they do not respond within a hour they don't get the interview. this will eliminate about half of the 12. step 3 When you ask to set up a time to talk you say you will be the one calling them.

Every now and then we all need a little extra attention.....no big deal.  

It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.

Any ideas on what I could turn it into to help generate some extra profit?

Half-year convention: If no mid-quarter rule applies, you might claim half a year of depreciation for certain assets.2.