You must work at least 750 hours per year in a qualified RE business.So most people who have high-earning W-2 jobs outside of real estate won't qualify.But the unique thing about RE pro status is that even if you don’t qualify but your spouse does, you can both file jointly and claim the losses from your RE investments to offset your other active income together.It's an incredibly powerful benefit if you do meet the criteria.

Every little thing in the project should be in writing, even down to the door stops :-) See my tile spec sheet below ...Two problems with your post though - 1) In my experience, most problems come from the customer changing their minds constantly.

Have you considered creative financing options like joint ventures or seller financing to reduce reliance on outside capital?

If you continue filing taxes jointly the income you realize from your separate property will still need to be explained and redacted, regardless of the type of entity holding the real estate.

I'm not sure if the contractors are trained to exacerbate every single problem or not.We recently discovered asbestos in the compound joint.

Run by Dutch Mendenhall and Amy Vaughn, they solicit hard money loans (which they do not pay back) and joint venture real estate deals which they also do not pay back. 

They say that their children are constantly running around and hearing the constant little feet is irritating.Is there anything I can do?

**Joint Venture Agreement**: If you are partnering with another wholesaler or investor, this contract outlines the terms of the partnership and how profits will be split.

Its not as easy but once you are up in running you are building a brand, equity in your business, and also constant flow of leads.

As far as your primary residence, if you have lived in it 2 out of the last 5 years, you should not have to pay taxes on capital gains (difference between what you paid for it & what you sold it for) up to $250,000 if you file your taxes as an individual and $500,000 if you file jointly with a spouse.Just a disclaimer, I am not a tax professional.