You could also qualify if you spend more time on the property than anyone else involved, regardless of hitting 100 hours.Ex. managing contractors, handling bookings, setting up the property, or dealing with guest communications, you might meet the material participation requirement without needing to track 100 hours.The key is to document everything.

A professional property manager can protect your investment by ensuring everything is handled legally and fairly.Maintenance and Repairs: Routine maintenance is essential for keeping properties in good condition and maintaining property value.

But wanted to add that you may want to consider a consultation with an attorney or even your liability insurance company to discuss best ways to handle this up front to avoid mis-steps in communication with the tenants, neighbors, media etc.

You need detailed language to handle all possibilities. 4.

It is an intensive leasing process each year, from the advertising to handling inquiries, applications, showings, etc. 

-- Roommates could accelerate your savings and give you experience dealing with tenants.How are you going to handle two mortgage payments while your rental sits vacant for a few months - or do you naively think everything rents instantly?

I thought it was my entry too.

And create a team to handle the stuff you don’t have time for.  

Please answer any of these questions or suggest any advice on how I should handle this mess.

That's just one scenario.But again it depends on what you can handle and what makes sense financially, I couldn't give you a perfect answer on what to do.