So...in essence, Treas Reg Sec. 1.469-9(f)(1) functions as an "anti-abuse" rule of sorts to prevent a RRE professional from downsizing his own RRE activities in relation to his "managed" RRE activities.Treas Reg Sec 1.469-9(f)(2) provides a de minimis exception to (f)(1), and may very possibly allow the taxpayer in your client's question to achieve what he's trying to achieve, which is why I am so hyper focused on it.Treas Reg Sec 1.469-9(f)(2) prescribes that if a real estate professional elects to group all rental real estate activities, and the pro-rata portion of his/her gross receipts of rental real estate activities held as a limited partner is less than 10% of all gross receipts from all of his/her rental real estate activities, Treas Reg Sec 1.469-9(f)(1) will not apply. 

I feel for some anti-STR neighbors that have lived in the neighborhood for sometimes decades, however times do change. 

Not only is it very hard to cash flow in CA, the tenant laws are heavily in favor of the renters, and anti-landlord. 

Narrow that list down to 3 and research the laws of each location to see if they are pro STR or anti STR.

Martin Edwards (my national guy)-email me for contact info-drawbacks are he is not a licensed broker but a "consultant" as he is a partner with one of his big lenders-also, he charges the investor points rather than the borrower, but can definitely DO THE DEAL and has many other programs like trans funding, extended trans funding, and HML'sPRMG/IKON-I have been told by different people that both these lenders can do it, but I have not been able to find any contact info for IKON to get refered rto a sales rep/mortgage broker and PRMG told me str8 up they cannot do it after checking with underwriters, for "anti flipping" rules.......Everyone please add to this list.

But, that mixed with the terrible anti-landlord regulations and increasing pressure from Minneapolis council, I am not interested in Minneapolis. 

You might be shocked to find out how little is required of a landlord in even the most anti-landlord states.

Knowing bldg codes is important too; seismic, afci, anti scald etcI always formulate exit strategy during DD too, is it LTR/MTR/STR feasible?

You should mobilize that 2000 into a voting bloc against any anti-landlord representatives.Btw, in Seattle, owner is responsible for Electricity, regardless of name on the bill.

I wonder if this is why BC passed that anti flipping sur charge .. to keep this stuff from happening.At least in Oregon it boils down to do you own it or do you not..