Case law however, not the written statute, has more clearly defined "work".I'm also confused how they could claim "providing materials" 2 months after "they were fired"....can you document the firing as real and enforcable? 

It depends on whether the House or Senate win out on certain aspects, but it could be good for investors.The House bill taxes all passive investments at 25% (rentals are considered passive, unless you are a real estate professional as defined by the IRC).The Senate bill gives a 23% deduction on the flow through income of sole proprietorships, LLCs, and S-corporations.There is a lot more to all of this, but those seem to be pretty good changes for investors.

So I guess it's a BRRR without the repair component. 

  $1000 for an LLC operating agreement and corresponding legal work is about the going rate in MA, and they help you ask all the "what if" questions that you haven't even thought of, and help you define what will happen if something happens.  

You need to clearly define your short and long term goals, before assessing if it makes sense to place your money into it.

Based on the contexts in which I see the term cashflow being used, I define it as what's left over after all your bills and after your no-BS reserves (e.g. repairs & capex which I don't see how anyone can put less than 200/month towards, prop management, vacancy).I'd consider anything before accounting for these to be revenue, not income.

Make sure it is defined and you understand your value.

Or is there always a battery component to it? 

Most municipalities enroll their employees in a traditional, defined-benefits program as opposed to a defined-contribution plan like a 401(k).

Definately check out any and all the forums, books, podcasts and tools here on Bigger Pockets.