You participated in the activity for more than 500 hours.2.

For due diligence, since you're new to industrial real estate, it’s best to engage a third-party firm that specializes in property assessments or partner with an experienced investor.To structure your involvement, if your spouse is a licensed agent, she could act as the buyer’s agent to earn a commission.

If you meet this first test, you are a REP...now determine if you can use the benefits of it.2) if you or your spouse meet test 1, THEN you can make an election to combine all your RENTAL activities together for purposes of determining if materially participate in your rental activities.  3) So you met test 1, made the election under #2 - now you see if you materially participate in your rental activities. 

maybe talk to some lenders and see what options you have.unfortunately i think the active methods take a lot of time, and the passive methods take a lot of capital.for example - on the active side - BRRRR is a really great but really difficult method. 

By qualifying as a real estate professional (REPS), you’d absolutely be able to offset your wife’s W-2 income with passive losses from your multifamily activities.

I recommend staying engaged with the forums and podcasts to keep learning from others' experiences.Given your success in short-term rentals, consider focusing on that niche initially.

Welcome to BP, I hope you find a chance to engage with the community while you're lurking as well!

I have another LLC because I am also a GC and all my renovation activities go under that business. 

There are a few MTR Facebook groups that are very active and the community is always sharing MTR booking leads.

As a real estate investor, you need an agent who understands the local market and how it ties into your strategy.How to Approach a SellerThere are several ways to approach a potential seller if you are actively looking for an off-market property.