The best way to do this is to renovate a unit or two to the specifications to bring it up to market.  

It's the only way you'll get a good idea of what the market is really doing in your area, and keeps everyone competing to find the best coverage, deductibles, and premiums for your specific account.Hope this is helpful. 

I do not have a specific credit score requirement.

I have some flexibility but rely heavily on my team for admin work and the day-to-day operations of property management.

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.

I know I already mentioned this, but @Mordy Chaimovitz...If you can get by with lower cash flow and invest for the long-term generational wealth (aka appreciation) in nice neighborhoods, that is the way to go, but it's tough to get by at times -- at least it is for me.Just know everyone's situation is different, and you should do what is best for your specific circumstances!

I work with lots of agents and my team manages 350ish homes in the greater CLT market.

If you are going to be doing the rehab work in exchange for equity then that value needs to be determined up front with a specific timeline that you have to adhere to in order to earn your equity.

I want to preface this by saying I'm an absolute newbie when it comes to real estate investing, but the more books and resources I consume, the more I find myself gravitating towards commercial real estate, specifically hotels!

Marc and his family started their PM business in the 70s or 80s in Denver and their team is one of the best around.