If you want to deduct losses as an LP, you must materially participate as a GP also.Various Sponsors (including Lane): Yes, it can be done I am also attaching a IRS Publication:  Passive Activity & Risk rules

You might not be able to do a STR in that place so you could have an out with inspection and save yourself some headaches.EDIT - Again, useful link blocked by the forum----https://www.orlando.gov/files/sharedassets/public/v/1/depart

A materialman or laborer, either of whom is not in privity with the owner, or a subcontractor or sub-subcontractor who complies with the provisions of this part and is subject to the limitations thereof, also has a lien on the owner’s real property for labor, services, or materials furnished to improve public property if the improvement of the public property is furnished in accordance with his or her contract and with the direct contract.

They operate under 506B and cannot publicly solicit.

Both have great public transportation access and are already seeing new development happening on the regular.What dollar value of a property can you purchase currently?

@Jacob Lopez I will send you a tool to use that we have on our website that is available to the public.  

I'd even recommend looking up on public records of some beat up small family in the area and calling them personally to see if they would sell you their property that needs work, especially if they owned it over 10 year, that usually means they are tired of it, and investing in bigger projects. 

Neither of these are well-suited for a public forum. 

Publication 523, Selling Your Home provides rules and worksheets.

The agent's buying/selling activities have nothing to do with the property renovation project, and must be treated that way except to inform the public of the agent's personal interest in the property.