Rhe IRS concluded that a taxpayer's involvement was sufficient to constitute a trade or business even though a management company was engaged as the leasing agent and handled day-to-day operations.

All real estate activities you engage in need to be approved by your broker as their insurance can have a clsim filed against for any of your activities.

How do you communicate with your spouse the benefits of investing in rental properties when they are as conservative with money as it comes; like let's sit on $50k cash conservative?I understand that we have our own r...

Or is this a meat and potatoes session of do's and don'ts?

Commissioner, where the Tax Court held that a dermatologist (who would likely not have qualified as a real estate professional by our current definition of real estate professional) was in fact engaged in a trade or business of managing his six rental units. 

So you are saying that I really don't need to engage with the General partners LLC with my LLC ?

If such type of harm befell your clients, then you most certainly could face a personal injury lawsuit down the line.C) In the event that your LLC is sued, there could be considerable questions about whether or not your LLC is created for a legitimate purpose given the level of intertwining that you are engaging in between yourself and the legal entity. 

I found Bigger Pockets 2 years ago but im shy and it took me a while to get engaged and realize that were all just students of the game of real estate and some are farther along their journey than others and that is no excuse for me NOT to network and get to know many of you on here and tap into everyone's experience and knowledge and resources to build up my rental portfolio and to help others along the way as my knowledge and experience grows over time. 

I'm also curious to learn more about raw land investing, and of course, am entirely open to the experience of others and will likely change/modify this initial shell of a plan as I learn more and gain more experience.My goal with real estate, on a broad scope, is to build wealth via passive income in order to enable a lifestyle in which my wife and I can make traditional work optional and use our time to engage in meaningful projects and endeavors to help others in need around the world.Thank you again for building such an impressive community!

@Adam Webb Without knowing the details of your market, if there is such a wide disparity, you are better engaging in a simple arbitrage trade (as you've pointed out) and buying duplexes all day long.