Also there's a rule 147 that allows to raise up to $1mil from sophisticated investors as long as it is offered to in state residents.

Payroll tax as an employee. 

We only manage 150 units so we can't put someone on the payroll and have them fix things as they come up.

It also requires gaining a level of sophistication and knowledge that not everyone has the time, inclination or ability to do.

There are only 168 hours in a week to spread among N people wishing to access their time-Their "helpers" are generally not as sophisticated or experienced. 

I'm just wondering how far you want to scale up and at what point do you want to hire more out and automize. hey william,all good questions. i have not read that book, but i will see if my library has it. i actually do not have a monster day job, just a worker bee engineer without any dreams to climb the corporate ladder.i do not have a rentals limit, i just whatever fits my criteria and my style. by style, i mean, the house needs to have a curb appeal and be in the right area. there are TONS of houses i passed on because they were either "ugly, weird layout, or in an area that wont attract the tenants i target. if i have the money at the moment, if i like the house and if my crew is running low on "projects", i just get it. i have been holding a few houses for the past 8-9 months just vacant in case the market dries up and i need a large project to work on.I have not much work on the houses for awhile. i still help out if i have a few hrs off here and there, but my crew keeps me in check by working only 8-5 and no weekends. so it's easy to just check on the project when they are not there and since they are not there to work, i just leave. i have a good team now, but do not have anyone that can oversee everything like i do. maybe it's because it's all mine and i know it inside/out, but no one will care for it as much as i care and know everything about it. i have spreadsheets that show purchase price, move in, move out, any changes in rent, if they have dogs, what insurance i use, when's the garbage day, what appliances came with which house, water payments for the year, furnace filter size, etc, etc... i update those as the "issues" happen. no one can do a good job unless i pay them a lot of money.my current payroll is ~120k per year, all sustained by the business.i think about quitting my day job often, and i certainly do not need it. but it's easy money, and the biggest fear i have is rentals drying up, like they have been. then what am i going to do?

Therefore, eliminating the deduction could seriously impact homebuying, especially among less sophisticated buyers.

The ones who come to me from HA are a more sophisticated renter who are also looking to book with the first owner who gets back to them.

This is a tough crowd.I have worked with some of the most sophisticated institutional and private investors on Wall Street both on consulting jobs and in partnerships.

As you would probably imagine there is a sophisticated internal system that utilizes charts to tell the story on a file and if required, approval by upper management and credit officers when loss ratios are higher.