@Abhinav Tandon I would start by looking up the WAREI Facebook group as it an active forum for things going on in the Seattle area. 

I'm an active investor doing cash flow deals in Oklahoma, Pennsylvania, Georgia, and Michigan.I'd be happy to compare real estate market notes with you.

These forums have priceless information and are very active.

That said, since I'm not actively involved in it myself, I may not be the most credible voice on the topic.

Hire the very best people you can to advise you based on your exact situation and circumstances and then let them help you implement a solid tax strategy that makes sense for you.Regardless of your position and role, this is without a doubt one of the highest leverage activities that you can do.Remember, it's not just about what you make, it's about what you keep in the end that matters most.

They come to realize  fractional ownership in a semi-active project with far less control is not as advantageous and eliminates the ability to build the more personal and meaningful relationships with lenders that comes with going through the more natural progression of growing a portfolio and business. 

(REPS)A real estate professional for tax purposes is someone who materially participates in real estate trades or businesses, spending more than 750 hours a year and over half of their working time on real estate activities.

Are you actively buying while prices are stalled or acting as a PML currently?

It costs a little bit of money and it takes a little bit of time, but you will learn a lot (especially if you sign on with the right broker) and then you don't have to worry about the possibility of conducting unlicensed activity.

If there's other activity going on in the s corp then that's a different story of course.