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. 

Whenever making an investment decision, please consult with your tax attorney or financial professional.

I appreciate the feedbackThere are a lot of experienced investors and professionals here you can learn from. 

I never read the book you referenced but at least it appears the book is written by a tax professional which is a good start.  

If you choose this route, make sure to have clear, written agreements in place and maintain a professional landlord-tenant relationship.

@Austin TessTo buy your first multifamily property, follow these steps: get pre-approved for financing with an FHA Loan, identify a high rental demand market, choose between house hacking or pure rental strategy, analyze the property using the 1% rule, build a team, negotiate the purchase, and manage the property professionally.

My spouse is trying to meet real estate professional status with the goal of offsetting my W2 income tax. 

They can talk to the insurance company for you, make sure repairs are done quickly, by licensed professionals,  and keep your tenants updated (if needed).

W-2, 1099, etc.) with passive income/loss from rentals is to meet the IRS requirements for Real Estate Professional Status or REPS (this also requires material participation in addition to specific requirements to be considered a REPS).Once you have clarity on whether or not you can offset non-passive income with rental losses you can then explore cost seg to accelerate depreciation (and some of the accelerated depreciation from cost seg will impact year 1)...