I was interviewing someone today for a marketing position and she is working for a company that were two IT professionals who sold a business, started a multifamily fund that is not doing well so now they are starting a ground up development fund for single family homes and another fund in commercial real estate.

Here’s the answer:To qualify as a Real Estate Professional (RE Pro) in 2024, you need to meet certain criteria set forth by the IRS.Here are some of the key requirements:1.

Eventually, lawmakers realized the negative impact this was having on the real estate sector and created what is known as Real Estate Professional Status (REPS).

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

With six children, it seems that the others would probably have known and reported.With first-hand experience of an overzealous medical professional, I'd wait to see if the charges are valid.

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).

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

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.