Here’s the answer:To qualify as a Real Estate Professional (RE Pro) in 2024, you need to meet certain criteria set forth by the IRS.Here are some of the key requirements:1.

Perhaps not a trend to consider across the city but any neighborhood that would attract college educated young professional families seems to be a good bet if you wanted to focus on this asset type.I plan to build 12 townhomes as a second phase of a condo/townhome project in a good area of Mount Airy near the Chestnut Hill boarder and even though I’m likely to years away from being ready to begin phase 2, my current plans are to keep the 12 homes as rentals for the precise reasons I outlined above.  

The mortgage broker or lender is generally going to use your middle mortgage credit FICO score which most people don't have access to unless they have already have had your credit run by a mortgage professional.

I would get a professional opinion from a qualified contractor , you may have storm damage already that could possibly be covered by your insurance 

Build a strong local team in each market, including real estate agents, property management professionals, contractors, and lenders.

But alas this is not about me or SEO.Allow me to make my point.Consider exhibit A: some actual data/numbersAll free, all motivated, all begging me to make them a cash offer, all 100% free. 

I was interviewing someone today for a marketing position and she is working for a company that were two IT professionals who sold a business, started a multifamily fund that is not doing well so now they are starting a ground up development fund for single family homes and another fund in commercial real estate.

Eventually, lawmakers realized the negative impact this was having on the real estate sector and created what is known as Real Estate Professional Status (REPS).

Then you go find the appropriate professional.

Linda,Welcome to the BP forum, it's one of the bes REI sites right now loaded with seasoned investors and seasoned professionals able to help with every angle.