Property is considered unclaimed if there has been no contact or activity with the rightful owner for a set period of time, usually 3 to 5 years."

It doesn't sound like you have an entity so you wouldn't create an entity/business account.I would suggest another personal bank account just for your rental activity.

I’ve lived all over the country being an active duty member of the military so I’ve had the opportunity to get a feel of the market in OH.

Is it active or passive?

We are over 20 experienced CPAs active in these forums, many of whom specialize in assisting real estate investors like yourself.

You materially participated in the activity for any 5 of the last 10 tax years.6.

., favorite type of restaurant or activities).Thoughtful extras: Think of small details like board games, books, or even a Polaroid camera with a guest book where people can leave their pictures and memories.

As I continue to grow my real estate portfolio, I’m actively looking for other commercial and residential investment opportunities to expand my footprint in the market.

he is very active on LinkedIn.And then there are these forums, too, and asking questions.  

There are several different types of income in the US tax code.Two main types are “active income” and “passive income".Active income is money you earn from working, such as wages from a W-2 job or income from running a business.Passive income is money you earn from investments like real estate, stocks, or rental income from your RE portfolio where you earn $ without actively working.Normally, you can't use passive losses (like losses from real estate investments) to offset active income like your salary from a W-2 job.That is unless you are an RE Pro.The reality is, that Real Estate Pro status is just a filing status similar to filing married or jointly.And if you are a real estate professional you CAN use passive real estate losses to offset active income from other sources.To qualify as an RE Pro you must:1.