.- For our clients, we provide consultations with a tax attorney that handles over 300 foreigners legal & tax needs.

I will not comment as to the tax laws and underlying rules - that is a discussion you can have with your tax advisor who presumably you are paying to help you.What I will do is provide practical and business guidance on tracking time.Firstly, there are apps available that can assist with time tracking where you can specifically detail your time, who you met with, etc.

Tom, Based on what you've provided, if the property was held over one year, you'd be subject to the long term capital gains rates and any depreciation that you took on the property in the past would have to be "recaptured" (Added to your income) at the short term tax rates (but it will not exceed 25%). 

There are also several funds out there that provide high single digit yields that are low risk. 

These areas tend to provide the best balance of affordability and rental demand.That said, Detroit’s market is unique.

This is rarely an issue provided you still perform.The raising money part is more complex.

Be sure to check out the free tools BP provides to help analyze deals you may have and also market insights.

Additional DetailsI’m willing to invest in out-of-state properties, though I prefer areas with good property management options.My primary focus is passive income, but I’m also interested in value-add opportunities.I want to ensure these investments provide strong tax benefits and diversify my portfolio.I’d love to hear from experienced investors:What would you do in my position?

It's hard to provide any advice without more context with your situation.

This type of short-term loan can provide the funds needed to renovate the property.