So, property management, construction, etc, and related expenses can be written off on your taxes; another nugget.In order for the IRS to recognize you as being in business your need to have the ability to link money to a source\an activity and once that is accomplished you can begin to write off expenses that are ordinary and required for your business.Now, I'm sure i am butchering the quote, but I think the just of it has been conveyed.Now, my question is, if my first business is land-lording and my 2nd business is, lets say flipping, or wholesaling, do I need to have separate everything; i.e. bank accounts, corps etc, following her logic, to apply her interpretation of the tax code correctly?

If ordinary people don't laugh at your goals, then your goals aren't big enough...don't be ordinary"-Landon-

It is all ordinary income.

I personally don't own property abroad - but I would hire a property manager if I chose to do so.To answer your tax related questions - You may potentially be able to write off the travel.An expense has to be ordinary and necessary for it to be deductible.

Judgments can even be place against my ordinary monthly income.  

"Some" notes are exempt from security registration which those families are as follows: Delivered in consumer financingSecured by a home mortgageSecured by a lien on a small businessEvidencing a ‘character’ loan to a bank customerSecured by an assignment of accounts receivableFormalizing an open-account debt incurred in the ordinary course of business.So we see that when a note is secured by a home mortgage it realizes an exemption from the securities definition.

All other retirement funds he has including his social security check, are already taxed with exception to profits from the investments and we use that money as his income.The penalty for withdrawals from an IRA or 401K are 10% penalty plus ordinary income taxing if taken out before you turn 59 1/2 years old.

Then I can own it for a year and recategorize ordinary income to l/t cap gain.  

@Kyle BrinksI am not sure if you ever got an answer.There are pros/cons in creating a management companyCons - You are converting income that is rental income to ordinary income that is possibly subject to self-employment income.There may be additional costs related to this strategy such as costs to create an additional entity, additional potential tax filings, possible payroll tax filings etc.

@Cole Britting great info.