Here's some generic advice.1.

Basically, if you run it hands-on and spend significant time doing it - probably there is material participation and self-employment tax.As you can see, a generic yes/no answer is impossible for your question.

The service between CPA, strategy, and legal was generic and uncoordinated.

@Srinath Gopinathan in my experience your generic lawyer is too risk-adverse and or trying to make a buck by overcomplicating a situation. 

Experience is suppose to be a supplement to your screening process it is not suppose to be the only screening process.  

It is amazing to have a place to supplement that space so you aren’t so hard pressed to get another property when the numbers aren’t right. 

Generically, if you aren't living there currently, the terms on an equity line will be atrocious.

I got a generic property ownership form from the city that wants info on rents, DBA ?

Also buying on the Pacific coast highway and having to supplement another $3000 a month in mortgage payments for the sake of appreciation is also not worth it. 

I know experience is the most important but I'd like to supplement it with self education.