I got started with private money back in 2009 and those were scary times.

And yes, it may be a good idea to work for a wholesaler first to get your feet wet.I don't think it's necessary to spend money to get your real estate license first. 

In all fairness, I have never participated in their mastermind group, but I have been pitched grossly over priced so called education programs from people that spend more time promoting and exaggerating what they’ve done in the hopes of getting a check from me with 5 zeros.

California is NOT one of those states that exempts this type of lending.. there might be a small carve out for a few loans a year privately done but if you hold yourself out as a lender your need a license.

Once your unit is rented, where do you end up spending most of your time as an investor/owner?

Note that if you are married filing joint, only the spouse who is qualifying for REPS is able to count their hours.Step 4: Apply the quantitative testsPer Section 469(c)(7)(B), in order to qualify for REPS, you must meet both of the tests below:750-Hour Test: If you materially participate in a real property trade or business, you must spend 750+ hours during the tax year.More Than Half Test: You must spend more than half of your personal service hours in the real property trade or business in which you materially participate.Step 5: Material participation in rental activities Just because you qualify for real estate professional status does not mean that your rental activities are automatically considered non-passive.

I am looking to buy fixer upper homes in Calgary, but I am going to spend most of my time finding deals. 

I haven't been expanding my business with LMHA since the end of 2016 per my posts above so I don't know exactly what changed, but I expect the outsourcing of inspections to private industry + some executive level leadership + replacement of staff with new faces excited to serve the needs of HUD/Landlords/Those In Need has resulted in an agency I will develop more business with.The HCVP will always be a double edged sword for landlords (See Section 8 Bible discussion) but for now I have discovered it is finally worth the effort to participate in the program.I specialize in Toledo's transition neighborhoods, discounted houses on the edge of nicer areas but also on the edge of trash...the Section 8 program allows me to get long-term tenants who are a good business model provided they are consistently managed and visited/inspected for additional "visitors" (relatives and random dogs/cats) and damage/housekeeping which can destroy a home if left unchecked.You need to know the rules, repair and renovate for long-term durability, prepare for inspections thoroughly and keep a team of contractors who will hold those standards...after 8 years we have been through a hundred inspections.

To reduce your tax bill, consider qualifying for Real Estate Professional Status (REPS) by spending 750+ hours on real estate activities, which reclassifies losses as non-passive.

@Kevin Omoaka,HiI sent you a private message for the discount code.