Even if you qualify as a REP, you still need to work 500 hours in each (or all depending how you file) of your properties.This podcast episode is a great listen. https://podcasts.apple.com/us/podcast/the-real-estate-cpa-podcast/id1125252777?

Seems great in principal - if I really could get the majority (or all) of the tenants to be section 8 voucher holders and get market rent I think it would be a very good investment. 

The value add piece definitely helps as there's less competition for properties that need work and by fixing them up and bringing them up to market rents I'm able to create cash flow and force a ton of appreciation in the first year, often refinancing and recouping most or all of the down payment. 

All properties sold in as-is conditions, where is with absolutely no warranty, no disclosure and no representations written or oral.

I am oral surgeon actively purchasing properties and am trying to get RE professional status for my wife.

When you say you bought your 3rd, 4th, or 20th property some or all of those voices will fade out and become words of praise.

Hi Everyone, looking for some clarity on captial gains on a primary residence that I will  be renting out after I move into my new house.if I decide to sell my first house that I turned into a rental after 5 years, will I pay based on The difference of fair market value at the time I turned it into a rental or all of it?

Should I leave 30% in of the total appraised or all I have invested in it (60k)?

Payments that you make normally fall into one of 3 buckets100% of the payment can be factored in somewhere on the returnPartial payment can be factored somewhere on the return0% of the payment can be factored in somewhere on the returnHouse-hacking also has considerable tax implications in the event that you want to sell this property.You can potentially defer a portion or all of the gain on the investment property with 1031 exclusion.You can potentially exclude a portion or all of the gain on the personal residence with section 121 exclusion

It includes some or all of the following:-A quick bio about my experience level and the properties that I've owned in/around the neighborhood-Detailed list of renovations that were done and the licensed contractors that did them-Before and after pictures that are professionally done-Highest comps that I can find, including other properties I have or do own-Other appraisals from similar properties that I own that I think will help the value-Lease on the property and/or comparable leases if applicable-A range of what I think the property is worth After all the bad appraisals I've had earlier in my career I can't imagine having one done in the future and not trying to provide these types of things.