If you are an individual that had a property loss (including personal property) then use the first link for FEMA.The second link is for business owners…and yes, this includes those of us that have rental properties.

You just have to learn the process and follow some  broad pieces of advice such as - don’t invest a lot in individual stocks because you are subject to much higher variances in performance.  

If an individual idea of success is $1M per year- then yes $10K on marketing. 

I am open to private individuals, just have not found the one who can cover this level of scale. 

I also know high equity individuals , some are close friends, but these are not 32% or third of American population.

SFR with an individual owner may be exempt, which means you could possibly terminate the lease.

If you buy individual stocks you may get 20-50%.

Another exit would possibly add 5 more wells and sell individually after renovations..Sorry for the long post but I'm hungry to get started and feel like this can be helpful Central Florida

Deegan and @Arda Bircan There are technically 7 Tests for Material Participation (but 3 that are most common) -> the individual 500 hour mark, that the activity of the individual is substantially all, and that the individual participates more than 100 hours + no-one else spends more time than them.Litmus Test: Are your hours integral to the operationsThe hours that qualify must be substantially all hours and have a legitimate impact on the rental activities.Activities that generally count: showing the property for rent, taking tenant applications & screening tenants, preparing & negotiating leases, cleaning & preparing the units for rent, repairs, and improvements, managing the construction, purchasing supplies & materials, inspecting the property, responding to tenant complaints & inquiries, collecting & depositing rents, evicting tenants, writing & placing advertisements, and working on your websiteActivities that don't count: education & research, investor-type activities, and travel time..

For newly constructed, purchased or renovated properties and also retroactive generally over the last 10 years, building components are properly classified into individual units of property and accurate recovery periods for computing depreciation deductions.