I will not comment as to the tax laws and underlying rules - that is a discussion you can have with your tax advisor who presumably you are paying to help you.What I will do is provide practical and business guidance on tracking time.Firstly, there are apps available that can assist with time tracking where you can specifically detail your time, who you met with, etc.

- The market is in a little bit of a lull right now (buyers market), its a great time to buy, but slower time to sell (my primary business is flipping houses) I can supplement my flipping business by providing project management services/consulting, helping investors find discounted properties, etc. etc.

Many times, hosts think the company or broker provided a STR policy just to find out when a claim is made there was a little sentence in the fine print that stated any STR activities canceled the policy out.

The more affordable price points, combined with a steady rental market, provide some peace of mind.

I do have two really good mentors / coaches I work with that would be able to provide more input but they do charge for their time.

These syndication can provide an 8%+ cash-on-cash return - providing investors monthly cash flow - and a 15-20% IRR over the length of the project.

I have provided them a letter from my broker about the amount that can be used.

However, I have heard and read of many horror stories of landlords working with incompetent property managers who provide no real value.In attempt to avoid this issue, I am doing my due diligence and asking investors for referrals of trustworthy property manager.

I used a property manager (before I was one) for (1) time & headache savings and (2) the value the property managers provide by economies of scale (marketing, discounts with vendors, etc.).

If you hire someone typically they are the ones providing this information, but if someone is paying you, then yes they need this information for tax purposes.BTW - I would say your SS# has been hacked so many times and is on the black market already this is why we monitor ours through other parties or just lock it down at experian and other agencies if you are concerned about it.